MP Assembly clears Rs 4.21 lakh crore budget, House to resume on Monday

The Madhya Pradesh Legislative Assembly passed the state government's Rs 4.21 lakh crore budget for 2025-26 late on Friday night through a voice vote.

Following an extensive session that lasted until 10 pm, Finance Minister Jagdish Devda presented the appropriation bill after the divisional grant demands were collectively approved.

He sought the House's approval for the proposed budget, which was passed by voice vote.

Subsequently, the Assembly proceedings were adjourned till the morning of March 24.

Friday's session included discussions on grant demands for key departments, including Water Resources, Urban Development and Housing, Sports and Youth Welfare, and Agriculture Development.

The participation of members in these deliberations stretched the proceedings late into the evening. By the session's conclusion, the demands for grants were formally approved.

The budget session, which began on March 10, is set to continue until March 24. During this session, the Gross State Domestic Product (GSDP) for 2024-25 was highlighted, with projections of Rs 15.22 lakh crore at current prices, reflecting a growth rate of 0.6 per cent over the previous year.

Key financial highlights of the 2024-25 fiscal year include expenditure (excluding debt repayment) estimated at Rs 3.26 lakh crore, an 8.9 per cent increase over revised estimates for 2023-24, revenue receipts (excluding borrowings) projected at Rs 2.63 lakh crore, up 7.6 per cent compared to 2023-24 estimates.

The state government has anticipated a revenue surplus of Rs 1,700 crore (0.1 per cent of GSDP) 0.04 per cent from the previous year. However, the fiscal deficit is targeted at 4.1 per cent of GSDP (Rs 62,564 crore), as against 3.6 per cent in the revised estimates of 2023-24.

The budget also accounted for debt repayment totaling Rs 29,697 crore. The session underscored the government's focus on financial discipline, with an emphasis on maintaining a surplus and managing the fiscal deficit effectively.

As the Budget session concludes on March 24, the comprehensive financial blueprint for 2025-26 aims to balance developmental priorities with fiscal responsibility.