The gross domestic product of Madhya Pradesh is estimated to be 13 lakh 22 thousand 821 crore rupees. It was 71 thousand 594 crores in the year 2001-02.
Chief Minister Shri Shivraj Singh Chouhan has said that Madhya Pradesh is performing well in fiscal discipline, inclusive development and tax collection. The financial management of the province is good. Per capita income has also increased. Chief Minister Shri Chouhan today on TV on Madhya Pradesh Economic Survey 2022-23. He was discussing with the representatives of the channels.
Chief Minister Shri Chouhan said that there is progress in every sector in Madhya Pradesh from economic and financial point of view. Revenue collection has also increased. There has also been an increase in capital expenditure. The industrial development rate of the province has also increased. According to advance estimates, the economic growth rate of the state is 16.43 percent in the year 2022-23. Earlier this growth rate was 18.02 per cent in 2021-22 despite the Covid situation. In the year 2001-02 it was only 4.43 percent. The gross domestic product of the state is estimated to be 13 lakh 22 thousand 821 crore rupees. It was 71 thousand 594 crores in the year 2001-02. Thus the Gross Domestic Product (GSDP) has increased by more than 18 times between then and now.
Chief Minister Mr. Chauhan said that in the year 2022-23, the fact that the per capita income in Madhya Pradesh will be 1 lakh 40 thousand 583 rupees has come to light. In the year 2011-12, the per capita income in the state increased to 38 thousand 497 rupees. In the first year 2001-02, the per capita income in Madhya Pradesh was only 11 thousand 718 rupees. If we discuss the ratio of debt to GSDP, Madhya Pradesh's performance is good in this sector as well. The latest Economic Survey shows that the debt to GSDP ratio, which was 39.5 percent in 2005, is 22.6 percent in 2020-21. The capital expenditure of the state has increased from 37 thousand 89 to 45 thousand 685 crore rupees. This increase is 23. 18 percent and is the highest capital expenditure in the state's history. Even in the circumstances of Kovid, efforts were made to increase the revenue of the state with the vision of building a self-reliant Madhya Pradesh. It has grown at a compound annual growth rate (CAGR) of 7.94 percent per annum in the last three years. In the field of fiscal consolidation, Madhya Pradesh has continuously increased revenue. The work of expansion of Priority Sector Landing has also been done.
There has been an increase of 13.41 percent in farmers' loans and 30.22 percent in the MSME sector. In the year 2001-02, the agricultural growth rate was just three percent, which has now increased to 19 percent. The state has also achieved production of 352.7 lakh tonnes of wheat in the advance estimate of 2022-23 compared to 174.8 lakh tonnes in 2013-14 and 46 percent share of Madhya Pradesh in wheat exports. The yield of paddy has increased from 53.2 lakh to 131.8 lakh tonnes.
The industrial growth rate, which was just 0.61 percent in 2001-02, has now increased to 24 percent. Work for the welfare of street vendors has also been done well in the state. Madhya Pradesh is ahead in the country by giving loans of more than 521 crores to small businesses (street vendors) of around 5 lakh urban areas. Irrigation capacity has increased by 585 percent. In the year 2003, the irrigation capacity was 7 lakh 50 thousand hectares, which is now more than 45 lakh hectares.