Bhopal, March 2 The Vishnu Deo Sai-led Bharatiya Janata Party government in Chhattisgarh will present its second full budget on Monday. State Finance Minister Om Prakash Choudhary will announce the state’s fiscal plan, which is anticipated to remain within the bracket of Rs 1.60 lakh crore to 1.75 lakh crore.
The state enjoyed a revenue surplus of Rs 1059 crore, with a total revenue expenditure amounting to Rs 1.24 lakh crore during the fiscal year 2024-25. A cabinet meeting slated for Sunday is set to give the final approval to the budget.
The Chhattisgarh Economic Survey for the fiscal year 2024-25, tabled last Friday in the state Assembly, projects the state’s growth at the rate of 7.5 per cent, signifying the expansion of the economy in this tribally predominant state.
The state finance minister is expected to prioritise the pledges made in the ‘Sankalp Patra’, in line with the ‘Amritkal Vision 2047.’ Similar to Madhya Pradesh's Sambal Yojana, the Chhattisgarh government provides an immediate ex-gratia of Rs 2000 to families in need upon the death of their primary earner through the ‘Shraddhanjali Yojana.’ The Finance Minister may consider increasing this ex-gratia amount. Additionally, there might be an increase in support for the ‘Mahtari Vandan Yojana’ or an expansion of its scope.
The state's economy has exhibited an average growth rate of 6 per cent spanning the period from 2012-13 to 2024-25. In the fiscal year 2023-24, the per capita income was recorded at Rs 148,922, and it is anticipated to escalate to Rs 162,870 in 2024-25, thereby implying a 9.37 per cent augmentation in the earnings of the populace.
Furthermore, special allocations for the recruitment of fresh teachers and infrastructure development in the prominent destinations of Bastar, Sarguja, and Raipur are anticipated.
According to the Economic Survey, the agricultural sector is projected to contribute 20 per cent to the state's GDP, while the industrial and service sectors are expected to contribute 43 per cent and 36 per cent, respectively. The state's income from trade, industries, and agriculture is witnessing a steady increment, culminating in higher earnings and an elevated standard of living for its denizens.
The total economic output of Chhattisgarh, gauged by GSDP, is expected to experience substantial growth this year. The state, endowed with rich mineral resources, accrued an income of Rs 6757 crore from major minerals during 2024-25, as per the survey. Additionally, the state garners a significant revenue from tendu patta production, utilised in the bidi-rolling industry, which amounted to 15.58 lakh sacks valued at Rs 1078 crore.
The previous fiscal year recorded the state's GSDP at Rs 306,712 crore, and it is projected to ascend to Rs 329,752 crore this year. This projection underscores a continuous rise in new industries, factories, and commercial prospects throughout the state. Chhattisgarh's economy is bolstered by three cardinal pillars: agriculture, industry, and services -- each of which is projected to excel this year, as per the Economic Survey.
For the fiscal year 2024-25, the agriculture, animal husbandry, and forestry sector is anticipated to burgeon by 5.38 per cent. This sector's valuation in 2023-24 stood at Rs 48,987 crore, expected to advance to Rs 51,621 crore this year. The state's industrial sector is rapidly growing further, projected to rise by 6.92 per cent, with a total valuation of Rs 147,172 crore. The proliferation of new factories and companies will engender ample employment opportunities for the youth, as noted in the Economic Survey. Sectors such as banking, tourism, and IT are experiencing a notable surge within the state.
The services sector is expected to expand by 8.54 per cent, attaining a valuation of Rs 108,461 crore. The burgeoning domains of tourism and digital services bestow even greater potential for future growth within this sector.
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