Madhya Pradesh (MP) Budget 2024-25: All Information, Highlights

MP Budget 2024-25

On Wednesday 03 July 2024, Finance Minister Jagdish Devda presented the first budget of the Dr. Mohan Yadav (Cm of Madhya Pradesh) government of more than 3 lakh 65 thousand crore rupees for the financial year 2024-25 in the Assembly. This amount is about 16% more than last financial year’s budget of 2023-24.

In his budget speech, which lasted about one and a half hours, Mr. Devda clarified that the state government has not made any provision for new taxes.

Referring to the amount of appropriation of 3,65,00,000 rupees, he said that out of this, a provision of 2 lakh 61 thousand 644 crore rupees is proposed for revenue expenditure and a provision of 64 thousand 738 crore rupees is proposed for capital expenditure.

An overall provision of one lakh 74 thousand 376 crore rupees has been made for the current financial year for the schemes of socio-economic upliftment in the state.

The finance minister said that the state government is also working with the important goal of doubling the size of the budget during the next five years.

During this period, the present budget has been prepared to increase capital investment, expansion of road, irrigation, and electricity facilities, quality health facilities, inviting investment for employment generation, and development of infrastructure facilities.

What is the Value of the MP Budget?

The total amount of MP budget 2024-25 is Rs 3,65,067 crore, which is 16% more than last year. The budget estimates a revenue surplus of Rs 1,700 crore in the current financial year.

The estimated revenue receipts are Rs 2,63,344 crore, which includes the state’s own tax of Rs 1,02,097 crore, the state’s share in central taxes of Rs 95,753 crore, non-tax revenue of Rs 20,603 crore, and grant-in-aid received from the Center of Rs 44,891 crore.

The finance minister said that in the year 2024-25, the state’s own tax revenue is likely to increase by 18 % as compared to last year.

Similarly, capital expenditure is also likely to increase by about 15 %. He informed that the budget has a provision of Rs 40,804 crore rupees for Scheduled Tribes (Sub Plan) and Rs 27,900 crore rupees for Scheduled Castes (Sub Plan).

The finance minister assured the House that the full use of the amount passed by the House will be made for development in the state and to bring ease in the life of the people.

He said that the measures for public welfare will be meaningful only when we are able to fulfill the hopes, aspirations, and expectations of the poor, destitute, helpless, and the general public who have lagged behind the mainstream.

This budget will make our continuous efforts to make the state a fully developed state more successful and result-oriented. Shri Deora said that this budget has been prepared by incorporating unlimited possibilities.

The state government has accepted the resolution letter of our party. Sankalp Patra will continue to inspire our government to deliver better results during its full term.

The government innovated in preparing the budget for the year 2022-23 and obtained suggestions from the general public, eminent economists, and subject experts.

The same tradition has been maintained in preparing the budget for the current financial year as well. Last year, the amount of appropriation in the annual budget was around 3 lakh 15 thousand crore rupees.

MP Budget for Taxes

Madhya Pradesh’s tax revenue is estimated to increase by 18% in 2024-25 as compared to the budget estimate of 2023-24. Capital expenditure is estimated to increase by about 15% in this budget as compared to the budget estimate of the last year.

Provision of Rs 40,804 crore (23.4%) for Scheduled Tribes (Sub-Plan) and Rs 27,900 crore (16L) for Scheduled Castes (Sub-Plan). Capital expenditure in the year 2024-25 is estimated to be 4.25% of the state’s GDP.

 Interest payments in the year 2024-25 will be 10.40% of total revenue receipts. The fiscal deficit is estimated at 4.11% of the gross state domestic product.

1000 crores for payment of bonus on procurement of crops from farmers at support price. 1000 crores for share capital to cooperative banks. 1000 crores for Chief Minister Krishak Crop Procurement Assistance Scheme.

MP Budget for Khelo India

In this budget year 166 crores rupees budget for Khelo India MP. 148 crores for setting up sports academies. 127 crores for building stadiums and sports infrastructure. 708 crores for strengthening and expanding vocational training.

MP Budget for Atal Krishi Jyoti or Samagra Shiksha Yojana

Provision of Rs 6290 crores for Atal Krishi Jyoti Yojana. Provision of 5965 crores for grants to local bodies as per the recommendation of the 15th Finance Commission. 5100 crores for Samagra Shiksha Abhiyan.

MP Budget for Energy

Provision of 4775 crores rupees for reimbursement of free electricity supply to 5 HP agricultural pumps/threshers and one light connection by M.P.V.M.

4567 crores rupees for government high/higher secondary schools. Provision of 4500 crores rupees for National Health Mission (NUHM/NRHM).

Provision of 4000 crores rupees for Pradhan Mantri Awas Yojana. Provision of 3600 crores for transfer from entry tax to urban bodies (octroi compensation).

Provision of 3500 crores rupees for Atal Griha Jyoti Yojana. 3500 crores rupees for the National Rural Employment Guarantee Scheme. 3469 crores rupees for Anganwadi Services (Saksham Anganwadi and Poshan 2.0). 2860 crores rupees for dam and related works.

895 crores rupees for the Intensive Animal Development Project. 252 crores rupees for cow conservation and animal development. 196 crores rupees for the Chief Minister Animal Husbandry Development Scheme.

150 crores rupees for Chief Minister Cooperative Milk Producer Promotion Scheme. 100 crores rupees for Cow Sanctuary Research and Production Center.

MP Budget for Medical and Dispensary

A budget of 405 crores rupees has been allocated for AYUSH hospitals and dispensaries, 115 crores rupees for AYUSH colleges, and 102 crores rupees for the National AYUSH Mission.

Additionally, 2,452 crores rupees have been allocated for medical colleges and allied hospitals, and 631 crores rupees for the medical colleges in Ratlam, Datia, Shivpuri, and Satna.

Furthermore, 400 crores rupees have been allocated for the construction of new medical colleges with state aid, 201 crores rupees for strengthening postgraduate courses in medical colleges, and 100 crores rupees for the Chhindwara Institute of Medical Science.

Lastly, 145 crores rupees have been designated for health services related to relief and rehabilitation for the Bhopal gas tragedy.

MP Budget for Education

A budget of 2,390 crores rupees has been allocated for arts, science, and commerce colleges, 271 crores rupees for honorariums to guest scholars, and 244 crores rupees for improvements in higher education.

Additionally, 205 crores rupees have been allocated for the construction of government college buildings, 154 crores rupees for the implementation of the Rashtriya Uchchatar Shiksha Abhiyan Yojana, and 141 crores rupees for nutrition grants to non-government grant-in-aid colleges.

A budget of 11,485 crores rupees has been allocated for the establishment of government primary schools, 6,705 crores rupees for secondary schools, and 3,389 crores rupees for government high and higher secondary schools.

Additionally, 2,738 crores rupees have been allocated for C.M. Rise Schools and 933 crores rupees for the honorarium of guest teachers. Apart from this, provisions worth hundreds of crores of rupees have also been made for various departmental schemes in the budget.

MP Budget for Mukhyamantri Ladli Behna Yojana

A budget of 18,984 crores rupees has been allocated for the Chief Minister Ladli Behna Yojana 2023, 3,469 crores rupees for Anganwadi Services (Saksham Anganwadi and Nutrition 2.0), and 1,231 crores rupees for the Ladli Laxmi Yojana.

Additionally, 1,167 crores rupees have been allocated for the Minimum Needs Program Special Nutrition Diet Scheme, and 423 crores rupees for the Women and Child Welfare Directorate.

FAQ About MP Budget 2024-25

Q. What is the value of the MP budget?

Ans. The total amount of MP budget 2024-25 is Rs 3,65,067 crore.

Q. Who presents the MP budget 2024-25?

Ans. Deputy Chief Minister of Madhya Pradesh and Finance Minister Jagdish Devda.

Q. What is the MP Budget 2024 Date?

Ans. On Wednesday 03 July 2024.

Q. What is the budget for education in Madhya Pradesh?

Ans. Approximant 3405 crores rupees.

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