MP news: Union Finance Minister Nirmala Sitharaman came to Madhya Pradesh today on a one-day visit, she met Chief Minister Shivraj Singh Chouhan during the day and Dattopant Thengdi National Lecture Series held at Ravindra Bhavan in Bhopal in the afternoon. joined in. After this, the presentation of the state was presented before the Finance Minister in Mantralaya, after seeing which he appreciated Madhya Pradesh. On this occasion, Chief Minister Shivraj Singh Chouhan, State Finance Minister Jagdish Deora, Chief Secretary Iqbal Singh Bains and officials of the Finance Department were present.
Finance Minister Nirmala Sitharaman said this in praise of MP
Union Finance Minister Smt. Nirmala Sitharaman said that the efforts being made in the field of Financial and Public Asset Management (PAM) in Madhya Pradesh are commendable. The growth rate of GSDP of the state has been higher than the national GDP growth rate in the last 10 years. In the year 2021-22, the economic growth rate of Madhya Pradesh was 19.74 percent, which is the highest in the country. The efforts of Madhya Pradesh are commendable even in the direction of fulfilling the target set by Prime Minister Narendra Modi to make the country’s economy $ 5 trillion by the year 2025.
Madhya Pradesh is making its best contribution in self-reliant India: Sitharaman
The Union Finance Minister said that Madhya Pradesh is making progress in every field. Especially in the matter of financial management, the state has presented exemplary examples by making many innovations. He said that the beneficiaries are being benefited by speeding up various schemes of the Central Government in the state. Along with this, self-employment efforts are also getting better, due to which startups are being encouraged. He said that Madhya Pradesh is making its best contribution in self-reliant India.
CM Shivraj told efforts to increase GSDP
Chief Minister Shivraj Singh Chouhan said that under the leadership of Prime Minister Narendra Modi, the state government is making special efforts to increase GSDP. In the report presented by the state level task force constituted for this, a target has been set for the contribution of the state to the country’s economy of $ 550 billion by the year 2025-26. The Chief Minister said that according to the recommendations of the Madhya Pradesh Government GSDP Task Force, economic strategies have been prepared for the economic and overall development of the state to achieve the target.
This work is going on for the structural change of the economy.
Chief Minister Shri Chouhan said that for the structural change of the economy, work has been done to encourage knowledge-based industries such as semi-conductor and biology industries, decentralization of industries, create clusters and logistic hubs in pharmaceutical food processing and textiles industries. He is going.
State figures presented in the presentation
Fiscal norms have been continuously followed by the state government, as a result of which the state has a continuous revenue surplus from the year 2005-06 to the year 2018-19, debt to GSDP ratio in the range of 25 percent from the year 2010-11 to the year 2019-20 and The interest payment on loans remained in the range of 10 per cent of the total revenue. Fiscal parameters were affected in the year 2020-21 due to the side effects of Covid. Monthly review of the state’s own financial resources is being done by me. There has been an increase in the revenue of the state. The Chief Minister said that in the financial year 2021-22, it is estimated that there will be a situation of revenue surplus. The state government has maintained its fiscal deficit within the prescribed limit. Along with this, important steps have been taken to increase the revenue resources.
Chief Minister gave this important information
Chief Minister Shri Chouhan said that the Public Asset Management Department has been formed in the year 2020 for disposal and management of unusable government assets in the state. Assets are being settled through online transparent process. 8 confiscated assets were released by paying Rs 14.50 crore to EPFO. As a result of disposal and disinvestment of government assets, a target of Rs 600 crore has been set for this financial year.
These figures of revenue growth
The Chief Minister said that as a result of the implementation of the new excise policy this year, there is a possibility of an increase of about 25 percent in the excise revenue. Reversal of ITC of ineligible IGST was done by the Data Analysis Unit of the Commercial Tax Department, as a result of which the state got an additional revenue of Rs 694 crore in the month of October. In the special campaign to increase the GST tax base, 69 thousand 894 new registrations have been done during the period from January to October 2022, which is 24 percent more than the same period last year.
Auction of 12 mineral blocks completed
It was told in the presentation that the revision of consumer charges in irrigation and auction of 12 mineral blocks has been completed and auction of 22 blocks is being done. The royalty rates of Limestone are being revised. The auction of timber has been started in the Forest Department from the current year, which is likely to generate additional revenue.
1 lakh posts will be recruited in 1 year
Working as a mission to increase employment opportunities in the state, approvals have been issued to recruit one lakh posts in the next one year. From 31 lakh 19 thousand in the last one year in Pradhan Mantri Mudra Yojana, Chief Minister Rural Street Vendor Scheme, National Rural Livelihood Mission, PM Swanidhi Yojana, National Urban Livelihood Mission, Prime Minister Employment Generation Program, Chief Minister Udyam Kranti Yojana and Sant Ravidas Self-Employment Scheme More self-employment opportunities have been created.
Special focus on capital works
To promote infrastructure activities in the state and to maintain the growth of the economy, special attention has been given on capital works. The achievement of capital expenditure of the state in the financial year 2021-22 is estimated to be 3.75 percent of GSDP. In the financial year 2022-23 also, the target of capital expenditure has been kept at 3.87 percent of GSDP. The state government has set a target to maintain this pace of expenditure on capital works continuously in the coming years as well.