Economic Survey of Madhya Pradesh 2024-25 Highlights Growth and Investment
On March 11, Chief Minister Mohan government presented the Economic Survey of 2024-25 in the Madhya Pradesh assembly before the state budget. According to the survey, per capita income in the state has increased by 9%, rising from ₹1.39 lakh to ₹1.52 lakh. The state's GDP has seen an 11% growth, and experts suggest that this will enable the government to take on more debt, with a current debt of ₹4 lakh crore.
Key Highlights of the Economic Survey
- GDP Growth: The state's GDP has increased by 11% over the last year, reaching ₹15,03,395 crore in FY 2024-25.
- Per Capita Income: Per capita income has risen from ₹1.39 lakh to ₹1.52 lakh, marking a 9% increase.
- Investment and Jobs: Over the last 5 years, ₹46,000 crore investment has been attracted, generating employment for 1.65 lakh people.
- Private Sector Employment: Women’s jobs in the private sector dropped by 40%. In 2024, the number of jobs for women in the private sector reduced to 6,564 from 10,963 in 2021.
- Industrial Growth: The number of industrial units has increased by 31%, leading to 1.65 lakh new jobs and ₹46,000 crore investment.
- Tourism Growth: Tourism has surged, with a 17% increase in government revenue from the sector. The number of tourists visiting the state has grown by 89.21%, with Ujjain witnessing a significant rise in visitor numbers.
- Milk, Eggs, and Meat Production: Milk production has increased by 5.98%, while the production of eggs and meat has seen even greater growth.
- Education and Dropout Rates: The number of students dropping out of school has decreased by 36% compared to previous years.
Sector-Specific Developments
In terms of specific sectors, tourism saw a substantial increase, contributing significantly to the state's revenue. Additionally, the state's dairy sector is experiencing growth in milk production, although the demand for eggs and meat has grown faster. The government's various initiatives, such as schemes to boost milk production, are helping achieve these improvements.
Reduction in the Kanya Vivah Yojana Budget
The government reduced the allocation for the Kanya Vivah Yojana in the 2024-25 budget. While the amount spent in 2023-24 was ₹33,418 crore, this year it has decreased significantly to ₹769 crore, with the number of beneficiaries also dropping to 13,490.
Increased Employment through Industrial Growth
The number of industrial units in Madhya Pradesh has risen significantly, providing much-needed jobs and attracting substantial investment. A total of 2,429 industrial units have been established in the last 5 years, creating 1.65 lakh new jobs.
Tourism Boost
The state's tourism industry has seen rapid growth, with the number of visitors increasing by over 89%. Ujjain, a significant pilgrimage site, witnessed a major rise in visitors, indicating the importance of religious tourism to the state's economy.
