BHOPAL: Fifteen months into its term in Madhya Pradesh, the BJP regime headed by Chief Minister Dr Mohan Yadav presented its second state budget on Wednesday.The Rs 4.21 lakh crore-plus budget for the 2025-26 fiscal year (total outlay was 15% more than Rs 3.65 lakh crore budget of 2024-25), presented by the deputy chief minister and finance minister Jagdish Devda, didn’t propose any new tax nor did it raise rates of existing taxes.Focusing on industry, infrastructure and agriculture, besides women, youth, poor and tribal and unprivileged sections’ welfare, the budget proposed providing insurance and pension cover to the 1.27 crore women beneficiaries of the CM Ladli Behna Scheme – which had emerged as the game-changer for the BJP in the 2023 Vidhan Sabha polls.“This budget proposes to work for linking beneficiaries of Ladli Behna Scheme and other ambitious schemes of the state government with the central government’s insurance and pension schemes, including the PM Jeevan Jyoti Insurance Scheme, PM Jeevan Suraksha Insurance Scheme and the Atal Pension Scheme,” the finance minister said.While proposing Rs 18,669 crore for the Ladli Behna Scheme – under which 1.27 crore financially weak women have been getting Rs 1250 monthly since September 2023 — the minister stopped short of telling when the monthly installment will be raised under the scheme. In its 2023 poll manifesto, the BJP had promised to increase the monthly sum gradually to Rs 3000 by 2028, but the monthly sum remains static at Rs 1250 since September 2023.The budget also proposed CM Samridh Parivar Scheme for below poverty line (BPL) families, which will provide them a complete package of welfare schemes for which they are eligible.Aiming to increase the share of women in the state’s workforce, a scheme was proposed for building 5,772 beds working women hostels in four largest industrial areas.Eyeing the expansion and diversification of skill development, the Lokmata Devi Ahilyabai Skill Development Program was envisaged, while at least one Madhya Pradesh Institute of Technology has been proposed on the lines of IITs in each division of the state over the next five years. Additionally, a Digital University and the National Defence University campus too have been proposed.With 17% of the budget’s proposed outlay being earmarked for infrastructure development and expansion, the budget proposed introduction of social impact bonds – a novel financial instrument which will enable the social services providers to generate funds from risk funders for providing services to beneficiaries. The National Stock Exchange’s (NSE) social stock exchange will serve as the unified platform to facilitate the entire process.Focusing on ensuring better road connectivity with main roads to all settlements in villages, the CM Majra-Tola Roads Scheme has been proposed with the initial outlay Rs 100 crore, while a Rs 100 crore scheme has been proposed for rebuilding the damaged small bridges and culverts across the state.While proposing Rs 58,257 crore for agriculture and allied sectors (Rs 13,409 crore more than the 2024-25 budget), the budget envisaged providing incentive of Rs 5 per litre to milk producers under the CM Dairy Development Scheme as part of efforts to increase production and collection of milk in the state.
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