The Madhya Pradesh Legislative Assembly approved the state’s ₹4.21 lakh crore budget for the financial year 2025-26 late on Friday night through a voice vote. The session, which extended till 10 pm, witnessed detailed discussions on key financial proposals and grant allocations.
Budget Approval After Lengthy Deliberations
The budget was presented by Finance Minister Jagdish Devda after the divisional grant demands were collectively approved by the House. Following this, the minister sought the Assembly’s approval for the appropriation bill, which was passed through a voice vote.
After the budget approval, the Assembly was adjourned and is scheduled to resume on the morning of March 24 to continue with the ongoing session.
Key Discussions and Grant Approvals
Friday’s session included in-depth deliberations on grant demands for major departments such as:
- Water Resources
- Urban Development and Housing
- Sports and Youth Welfare
- Agriculture Development
The active participation of members in these discussions extended the proceedings late into the evening. By the end of the session, the grant demands were formally approved, paving the way for further legislative discussions.
Financial Highlights of the 2025-26 Budget
The ongoing budget session, which began on March 10, highlighted the state’s Gross State Domestic Product (GSDP) for 2024-25, projected at ₹15.22 lakh crore at current prices, reflecting a modest growth of 0.6% over the previous year.
Key financial allocations and targets for 2025-26 include:
- Expenditure (Excluding Debt Repayment): ₹3.26 lakh crore, an increase of 8.9% over the revised estimates for 2023-24.
- Revenue Receipts (Excluding Borrowings): Projected at ₹2.63 lakh crore, up 7.6% compared to the previous year’s estimates.
- Revenue Surplus: ₹1,700 crore (0.1% of GSDP), reflecting a marginal increase of 0.04% from the previous year.
- Fiscal Deficit: Estimated at 4.1% of GSDP (₹62,564 crore), compared to 3.6% in the 2023-24 revised estimates.
- Debt Repayment: ₹29,697 crore allocated for repayment obligations.
Focus on Fiscal Discipline and Development
The budget emphasizes the government’s commitment to fiscal discipline by maintaining a revenue surplus and effectively managing the fiscal deficit. The financial blueprint aims to balance developmental priorities with responsible fiscal management.
Session to Conclude on March 24
As the budget session approaches its conclusion on March 24, the Madhya Pradesh government’s financial strategy for 2025-26 seeks to ensure sustainable economic growth while addressing key sectors like infrastructure, agriculture, and urban development.
