Madhya Pradesh Economic Survey: GSDP reaches Rs 15.03 lakh crore in 2024-25

Bhopal: Madhya Pradesh’s Gross State Domestic Product (GSDP) at current prices reached Rs 15,03,395 crore in fiscal year 2024-25, marking an 11.05 percent increase from Rs 13,53,809 crore in 2023-24.

Deputy Chief Minister Jagdish Devda, who holds Finance department, presenting the Economic Survey in the Assembly on Tuesday, announced that the state aims to double its GSDP by 2028-29 under the guidance of Prime Minister Narendra Modi and Chief Minister Mohan Yadav.

Deputy CM Devda will present the budget for financial year 2025-26 in the Assembly on Wednesday during the ongoing session.

According to the state Economic Survey, the GSDP at constant prices stood at Rs 7,12,260 crore in 2024-25, reflecting a real growth rate of 6.05 percent. The state’s per capita income at current prices rose to Rs 1,52,615, while at constant prices, it was Rs 70,434.

The primary sector contributed 44.36 percent to the Gross Value Added (GVA), followed by 19.03 percent from the secondary sector and 36.61 percent from the tertiary sector. The agricultural sector accounted for 30.90 percent of the primary sector’s contribution, with a growth rate of 10.8 percent at current prices and 1.6 percent at constant prices. The livestock sector contributed 7.45 percent, growing at 11.93 percent at current prices and 8.39% at constant prices.

The state’s revenue receipts are estimated at Rs 2,63,344 crore in 2024-25, with a projected revenue surplus of Rs 1,700 crore and a fiscal deficit of 4.11 percent of GSDP.

Madhya Pradesh has declared 2025 as the “Year of Investment and Employment” to boost industrial growth.

The secondary sector’s GVA reached Rs 2.73 lakh crore, supported by infrastructure projects worth Rs 145.13 crore. Investment proposals worth Rs 4.17 lakh crore were received by December 2024.

Significant budgetary allocations have been made for education, healthcare and social welfare. The health budget rose to Rs 15,744 crore, and over 4.85 crore health cards were issued under Ayushman Bharat. The education budget stood at 11.26%, with 274 schools under the CM Rise scheme under construction.

With strengthened banking, financial inclusion, and growing investments in agriculture, industry, and infrastructure, Madhya Pradesh is poised for sustainable and inclusive economic growth.