Bhopal, March 1 Announcing that Madhya Pradesh has attained an impressive 13 per cent growth this year, Chief Minister Mohan Yadav on Saturday said that paddy farmers will be given an amount of Rs 4000 per hectare, doubling the previously announced Rs 2000 per hectare. He was addressing a gathering of farmers in Balaghat.
The chief minister also announced the commencement of multiple development works and projects of Rs 326 crore in the district. "This impressive growth of the economy shows the state economy is expanding," he said.
CM Yadav emphasised that this growth is a testament to the state's expanding economy. He praised Prime Minister Narendra Modi's efforts in elevating India's economy from the 11th to the 5th position globally within a decade. The 13 per cent growth rate, he noted, is a result of various welfare initiatives undertaken by the state government.
Referring to the recently concluded Global Investors’ Summit 2025, CM Yadav highlighted that women in the state will benefit from increased funds as private investments start flowing in.
The state's GDP grew by 9.23 per cent in the previous financial year, reaching Rs 12,46,471 crore. The Economic Survey 2023-24 highlighted that the GSDP at constant prices for 2023-24 was Rs 6,60,363 crore, up from Rs 6,22,908 crore the previous year, marking a 6.01 per cent increase.
According to Economic Survey 2023-24 (tabled in the state Assembly earlier last year), the per capita income of Madhya Pradesh has seen a remarkable rise from Rs 38,497 in 2011-12 to Rs 1,42,565 in 2023-24, representing a nearly fourfold increase. Even after adjusting for inflation, the per capita net income has grown significantly, showcasing real economic progress. The state government will table its annual budget 2025-26 on March 12 in the state assembly. The budget session will begin on March 10.
CM Yadav also announced various projects, including an astroturf for hockey and several bridges. He assured that with the rapid economic growth, welfare schemes and programs for the upliftment of all sections of society are underway.
These include initiatives for the economic and social empowerment of tribal and scheduled caste communities, women's empowerment, promotion of industry and trade through simplified regulations, and the inclusion of technology in agriculture to boost farmers' income through food processing.
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