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MP’s economy booms, GDP grows by 9.37 percent under CM Mohan Yadav’s leadership.

Nita Yadav

By Nita Yadav

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Chief Minister Dr. Mohan Yadav

The Gross State Domestic Product of Madhya Pradesh for FY 2023-24 is Rs. 13,63,327 crore has been reached. This shows the expansion of the economy of the state. It includes an increase in the value of production, both goods and services. The gross domestic product of the state last financial year was Rs. 12,46,471 crore, an increase of about 9.37 percent. This increase has been underlined in the Economic Survey.

GSDP at constant prices for the year 2023-24 is Rs. 6,60,363 crore, which was Rs. 6,22,908 crores is more than. This is an increase of about 6.01 percent, which shows that Madhya Pradesh is making steady economic progress.

Economic development as expected by PM Modi

On this increase, Deputy CM Jagdish Deora said that the Economic Survey shows the strong economic progress of Madhya Pradesh. He said that under the leadership of Chief Minister Dr. Mohan Yadav, Madhya Pradesh will establish a new phase of economic prosperity. As expected by Prime Minister Narendra Modi, it will provide full support in building the country’s five trillion economy.

Along with the development of the economy in Madhya Pradesh, welfare schemes are also being implemented for the development of other important sectors and upliftment of all sections. Programs for economic and social empowerment of tribal and scheduled caste communities, empowerment of women, initiatives to increase farmers’ income by simplifying and simplifying regulations and making them easier to follow, incorporating technology in agriculture and increasing farmers’ income through food processing emerged as examples of good governance. is

Evidence-based and data-based policy making and analysis are being given utmost importance in the state. This effort is clearly visible in the Economic Survey of Madhya Pradesh 2023-24. This time’s economic survey shows the state’s progress in areas like investment, exports, industry, science and information technology, education, medicine and health.

Per capita income quadrupled

The per capita income of Madhya Pradesh from 2011-12 to 2023-24 tells a unique story of the state’s economic growth and prosperity. Per capita NSDP has increased during this period, indicating significant growth in the state’s economy. Net per capita income at current prices in 2011-12 was Rs. 38,497 in 2023-24 to Rs. 1,42,565 has been done. There has been almost a four-fold increase.

Net per capita income after adjusting for inflation also showed significant growth at constant (2011-12) prices, which in 2011-12 stood at Rs. 38,497 in 2023-24 to Rs. 66,441 was done. This growth reflects real economic progress beyond the effects of inflation.

Contribution of primary sector 45.53%

At current prices, the contribution of the primary sector in the year 2023-24 was 45.53%, which is a significant contribution to the economy of the sector. The contribution of the secondary sector has been 18.47% and the contribution of the tertiary sector has been 36% in the year 2023-24 at current prices. At constant prices, it increased to 39.64% in 2023-24, reflecting the strength of the services sector. With continued investment and improvement in the service sector, the tertiary sector is likely to contribute more to the economic progress of the state.

42.62% increase in production of pulses

Madhya Pradesh has recorded an increase of 0.20% in production of major crops in FY 2023-24. Pulses production increased by 42.62% and oilseeds by 7.32%. The production of vegetables has increased from 235.41 lakh metric tonnes to 242.62 lakh metric tonnes in the year 2023-24 and the production of fruits has increased from 95.10 lakh metric tonnes to 95.54 lakh metric tonnes in the year 2023-24.

Income surplus

The revenue surplus is estimated at Rs 413 crore in 2023-24, which is an indication of recovery from the revenue deficit situation of the Corona period and strong fiscal position. The share of state taxes as a percentage of GSDP has increased from 6.16% to 6.20% from 2019-20 to 2022-23.

So far, more than 4.29 crore beneficiaries in the state have availed banking facilities through Pradhan Mantri Jan Dhan Yojana. Efforts are being made by the government to make banking services accessible and expand credit to agriculture, industry and other sectors, which will result in an increase of 16.4% CAGR in agricultural credit from 2005-06 to 2023. -24 and 33.85% CAGR in MSME sector.

PM Swanidhi Yojana

Under the Pradhan Mantri Awas Yojana-Urban, 9.50 lakh houses have been sanctioned in the state, of which 7.50 lakh houses have been completed. Apart from this, it is the first state in the country to issue digital Ayushman cards to 3.56 crore beneficiaries. In the first phase of the PM Swanidhi scheme, 8.30 lakh urban street vendors were given Rs. The state ranked first in the country by disbursing loans of 827.85 crores.

Between 2004 and 2024, conventional energy production has increased by 270.47 percent. Madhya Pradesh contributes 8.2 percent to the country’s total solar power generation and ranks fourth in the country in this regard.

Nita Yadav

Nita Yadav

I am Nita Yadav, specializing in writing about politics and breaking national news. My focus is on delivering insightful and timely perspectives on these crucial topics, aiming to inform and engage my readers effectively.

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