- Half of the Budget Allocated for These Sectors
- Finance Minister Jagdish Devda to Present the Budget for FY 2025-26 Today
- The new budget will be close to Rs 4.25 lakh crore
- Finance department has completed the final preparations
- The largest budget yet for the state
Bhopal, : The budget for the financial year 2025-26 will be presented in the state assembly this Wednesday. Finance Minister Jagdish Devda will unveil the new budget at 11:00 AM. The finance department has finalized the budget, which is expected to be the largest in the state’s history, possibly reaching Rs 4.25 lakh crore. Nearly half of this budget will focus on sectors that are crucial to the welfare of villages, the poor, youth, farmers, and women. This indicates a strong emphasis by the government on these segments.
The budget will not only prioritize the development of infrastructure but also allocate significant resources to bolster four key missions related to education and knowledge. In addition, measures will be introduced to reduce the burden of subsidies.
The previous budget was Rs 3.65 lakh crore, and this year’s budget could see an increase of 16-19%, placing Madhya Pradesh among the top states with a budget exceeding Rs 4 lakh crore.
Government to Allocate Rs 5,000 Crore for Poverty Alleviation Mission
The government’s Garib Kalyan Mission will aim to improve the poverty index by financially empowering the poor. The plan includes promoting self-employment from villages to cities, ensuring that the poor benefit from all available government schemes. The government is expected to allocate at least Rs 5,000 crore for this mission in the new budget.
Youth Power Mission: One Lakh Government Jobs and Employment in the Private Sector
Under the Yuva Shakti Mission, the government plans to create over one lakh positions in the public sector and also ensure job opportunities for more than two lakh youth annually in the private sector. The budget may also increase funding for skill development programs, helping youth access the necessary training for employment.
Empowerment of Women and Girls: Rs 50,000 Crore Allocated
The budget will focus significantly on the Devi Ahilya Nari Shakti Mission to empower women and girls financially. The government aims to ensure these groups benefit from various welfare schemes. As part of this, Rs 20,000 crore is expected to be allocated for the Chief Minister Ladli Behna Yojana, Rs 4,000 crore for anganwadis, and Rs 1,500 crore for special nutritional food schemes.
Energy Sector to Make Farmers Self-Reliant
For the first time, the budget will focus on making farmers self-reliant in the energy sector. Over the next three years, 30 lakh farmers will be provided with solar pumps, with a significant allocation for 10 lakh solar pumps in the upcoming financial year. This will reduce the government’s subsidy burden on electricity and allow farmers to generate income by selling excess power. Currently, the government is providing Rs 25,000 crore in electricity subsidies, but with this initiative, the subsidy burden is expected to decrease.
Fiscal Deficit Challenge: Bringing It Below 4%
One of the major challenges in the upcoming budget will be reducing the fiscal deficit to below 4% of the Gross State Domestic Product (GSDP). Currently, the fiscal deficit stands at 4.11%, and according to established norms, it should be brought down to 4%. While it is crucial for financial discipline, the possibility of achieving this target remains uncertain.
This budget emphasizes strategic investments in social welfare and infrastructure, with a clear focus on ensuring inclusive growth and reducing fiscal pressures.
