Goal ’47: Madhya Pradesh to headline India growth story, says CM Mohan Yadav at ET WLF
Speaking at the ET’s World Leaders Forum, Yadav stressed many advantages of the state. “MP already has excess electricity, land and water and a strong connection, which makes it a great investment center.” He said. “We found 18 policies focusing on ease of work and faster approvals for new industries who want to establish in the state.”
CM, the number of permissions required to establish an industry in the state was increased from 29 to 10, he said.
In order to attract major investments, the state offers direct approval to projects worth 500 Crore, as well as electricity discounts and other incentives.
Yadav said it is determined to expand the government’s budget by 15-16% each year and continue to grow.
Madhya Pradesh’s budget size is ₹ 4.2 Lakh Crore for the current financial year, which is about 15% higher than about 3.65 Lakh Crore for 25 financial years.
Gross Domestic Product of the State (GDP) increases by 6.05% than 25 FY25.
The labor force participation increased from 67.8% to 72.7% in 2023-24 compared to the previous year.
The state encourages employment production by offering a one -time applicability financing (VGF) 5,000 ₹ 5,000 for each worker employed by the industry.
According to the Prime Minister of the Deputy, states need to be self -confident and to implement innovative policies to be less dependent on the financing center.
“Madhya Pradesh has developed a PPP (public-private partnership) model to create a medical college that helps the state use special financing to establish more colleges.” He said.
River-interconnected projects such as Ken-Betwa also benefited from the state as “there is water available for industrial, agriculture and other purposes”.
Yadav said that the state attracted more tourists and that more than 200 hotels have been built in the last few years to address the increasing demand.
