MP Economic Survey 2022-23: Madhya Pradesh economy records 16.4% growth after Covid-19

MP Economic Survey 2022-23: Madhya Pradesh economy records 16.4% growth after Covid-19

GDP, per capita income up; farm and tourism sectors grow

Staff ReporterUpdated: Tuesday, February 28, 2023, 11:53 PM IST
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Bhopal (Madhya Pradesh): The economy of Madhya Pradesh is in pink of health after two years of Covid-19 pandemic. It has recorded a growth rate of 16.4%, over and above 18.02% of 2021-22, in the current fiscal.

The state’s Gross Domestic Product (GDP) has grown by 7.06% and per capita income by 5.67%.

The state has set a target for contributing 5,500 billion dollar to the Prime Minister Narendra Modi’s resolve to make India a five-trillion economy.

The above figures have cropped up the Economic Survey for the financial year 2022-23.

It was tabled in the House on Tuesday, the second day of the ongoing state budget session.

According to the survey, the annual per capita income of the state has jumped from Rs 38,497 in 2011-12 to Rs 65,023 in the current financial year.

The Survey says the state government has been maintaining financial discipline, so the loan to Gross State Domestic Product (GSDP) ratio has dropped from 39.5% in 2005 to 22.66% in 2020.

From 2018-19 to 2021-22, the state’s own revenue has grown by almost 8% and its share in the central taxes by just 0.59%.

The wheat output in the current financial year has been 352.7 lakh MT. It is up from 174.8 lakh MT in 2013-14. The amount of irrigation land has grown by nearly 600% since 2003.

The state is drawing Foreign Direct Investment (FDI). The overseas investors pumped $208 million (Rs 1,560 crore) into the state’s economy in 2021-22.

Tourism sector

The tourist centres in the state are attracting an increasing number of visitors.

The number of tourists, visiting places of religious interest, has gone up by 122%.

Similarly, the number of tourists going to other spots has shot up by 58% in the same period.

The state’s tourism budget has grown 21 times since 2004-05, the survey said.

Power generation

The state’s installed power generation capacity has increased five times since 2003.

Similarly, the per capita availability of power has shot up from 570 KWH in 2012 to 1184 KWH in 2022.

The survey has further said Metro Rail projects are under construction in Indore and Bhopal for which a sum of Rs 14,000 crore is being spent.

Green energy

According to the survey, the state has set the target of meeting half of its power requirements from green and renewable sources of energy by 2030. The state has launched a Science, Technology and Innovation Policy-2022.

Inclusive social development

Many schemes have been launched to promote inclusive social development.

As a result, the sex ratio at birth in the state has climbed from 927 to 956 and female literacy rate from 44.44% to 65.4%.

Women empowerment

In the Panchayat elections held in 2022, 17,000 women associated with SHGs emerged victorious.

Of them, 1,907 were elected as Sarpanchs, 381 as Janpad Panchayat members and 46 as Zila Panchayat members.

PESA Act implemented

The state has notified Panchayat (Extension to Scheduled Areas) (PESA) Act to give rights to the STs on their Jal, jangal and zameen (water, forest and land).

As many as 370 CM Rise Schools are being set up and bicycles provided to more than one lakh students of grades 6-9.

Health services improved

The state has achieved remarkable success in reducing IMR (41.3) and MMR (173). Dialysis machines and CT scanners have been installed in district hospitals.

The state has taken several steps for good governance. More than two crore complaints were registered on CM Helpline between 2014 and 2023. And 98.8% of the complaints have been worked out.

Public Services Guarantee Act

MP is the first state to promulgate Public Services Guarantee Act, and 696 services provided by 48 departments have been brought under it.  

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