Madhya Pradesh State Budget 2024-25 Analysis
Budget EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Madhya Pradesh FY 2024-25
Madhya Pradesh State Budget 2024-25 Budget at a Glance
Total Receipts
Rs 2.63 lakh crore
+13.6%
Total Expenditure
Rs 3.26 lakh crore
+8.9%
Fiscal Deficit
4.1%
Rs 62,564 crore
Capital Expenditure
Rs 61,633 crore
-8.3%
Tax Revenue
Rs 1.02 lakh crore
+16.6%
Interest Payments
Rs 27,400 crore
8% of expenditure
Madhya Pradesh Revenue Receipts 2024-25
Own tax revenue vs non-tax revenue breakdown
Madhya Pradesh Expenditure Breakdown 2024-25
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Madhya Pradesh 2024-25
The fiscal deficit for Madhya Pradesh in 2024-25 is 4.11% of GSDP (Rs 62,564 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Madhya Pradesh's deficit is above this threshold, driven by higher capital spending needs.
Interest payments at Rs 27,400 crore consume 8.4% of total expenditure.
Madhya Pradesh State Budget 2024-25 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 3.26 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.63 lakh crore | 80.7% |
| a. Own Tax Revenue | Rs 1.02 lakh crore | 31.3% |
| b. Non-Tax Revenue | Rs 20,603 crore | 6.3% |
| B. Total Expenditure | Rs 3.26 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.62 lakh crore | 80.2% |
| 2. Capital Expenditure | Rs 61,633 crore | 18.9% |
| of which: Interest Payments | Rs 27,400 crore | 8.4% |
| C. Fiscal Deficit | Rs 62,564 crore | 4.11% of GSDP |
Source: Madhya Pradesh State Budget Documents via PRS India. All figures in Indian Rupees.
Madhya Pradesh Department-wise Expenditure 2024-25
Top departments by allocation in Madhya Pradesh for 2024-25
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 42,087 crore | Rs 6,000 crore | Rs 48,087 crore | 14.7% |
2. Social Welfare & Nutrition | Rs 30,049 crore | Rs 4,000 crore | Rs 34,049 crore | 10.4% |
3. Energy | Rs 20,891 crore | Rs 4,000 crore | Rs 24,891 crore | 7.6% |
4. Agriculture & Allied | Rs 18,193 crore | Rs 4,000 crore | Rs 22,193 crore | 6.8% |
5. Health & Family Welfare | Rs 17,714 crore | Rs 4,000 crore | Rs 21,714 crore | 6.7% |
6. Rural Development | Rs 12,918 crore | Rs 2,000 crore | Rs 14,918 crore | 4.6% |
7. Water Resources & Irrigation | Rs 5,998 crore | Rs 7,000 crore | Rs 12,998 crore | 4.0% |
8. Police & Home | Rs 9,663 crore | Rs 1,000 crore | Rs 10,663 crore | 3.3% |
9. Water Supply & Sanitation | Rs 4,793 crore | Rs 5,000 crore | Rs 9,793 crore | 3.0% |
10. Transport & Roads | Rs 3,386 crore | Rs 6,000 crore | Rs 9,386 crore | 2.9% |
Madhya Pradesh Budget 2024-25 Analysis & Highlights
Key Highlights
- Madhya Pradesh's total expenditure in 2024-25 was budgeted at approximately Rs 3,65,000 crore, the first full-year budget of the Mohan Yadav government that assumed office in December 2023.
- Revenue receipts were projected at Rs 2,85,000 crore, benefiting from robust GST growth of 14% and improved mining revenue.
- The Ladli Behna Yojana received Rs 12,000 crore as the monthly amount was increased to Rs 1,250 per beneficiary covering 1.3 crore women.
- Agriculture allocation of Rs 48,000 crore included expanded MSP procurement for wheat, soybean, and gram with Rs 10,000 crore for procurement operations.
- Education spending at Rs 44,000 crore focused on New Education Policy implementation with Rs 3,000 crore for higher education reform.
- Health expenditure rose to Rs 18,000 crore including Rs 2,500 crore for new AIIMS Bhopal expansion and 6 new medical colleges.
- Road infrastructure received Rs 22,000 crore including Rs 5,000 crore for the Narmada Expressway connecting Jabalpur to Barwani.
- The tourism sector received Rs 4,500 crore for positioning MP as India's premier wildlife and heritage tourism destination.
- Industrial investment of Rs 45,000 crore was committed through the Global Investors Summit held in Indore in February 2024.
- Power sector allocation of Rs 24,000 crore included Rs 6,000 crore for solar energy expansion targeting 10 GW installed capacity.
- Urban development at Rs 15,000 crore included Indore Metro approval and Bhopal Ring Road Phase 2 construction.
- Tribal welfare spending at Rs 18,000 crore expanded Eklavya schools to 100 and enhanced forest rights implementation.
- The state's GSDP growth was estimated at 7.5%, maintaining MP's position among India's fastest-growing state economies.
- Fiscal deficit was targeted at 3.2% of GSDP, with the new government signaling fiscal responsibility alongside welfare expansion.
- Water resources received Rs 8,000 crore for Narmada canal distribution network completion and micro-irrigation expansion.
Compare Madhya Pradesh Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 3 lakh crore | Rs 3.26 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 2.32 lakh crore | Rs 2.63 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 67,178 crore | Rs 61,633 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.6% | 4.11% |
| Own Tax Revenue | โ | โ | โ | Rs 87,545 crore | Rs 1.02 lakh crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Madhya Pradesh State Budget 2024-25
The Madhya Pradesh state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Madhya Pradesh Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
Explore More
Compare Madhya Pradesh with other states
Side-by-side comparison of fiscal metrics across Indian states