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Chhattisgarh Unveils Ambitious Budget Targeting Doubling State GDP

Updated: Feb 10, 2024 02:35:30pm

Chhattisgarh Unveils Ambitious Budget Targeting Doubling State GDP

Raipur, Feb 10 (KNN) Chhattisgarh announced its ambitious budget of Rs 1.47 lakh crore with a strategic aim to double the Gross State Domestic Product (GSDP) from Rs 5 lakh crore to Rs 10 lakh crore within the next five years on Friday.

According to Finance Minister O.P. Choudhary, the capital expenditure for the fiscal year 2024-2025 is projected at approximately Rs 22,300 crore, constituting 15 per cent of the total budget and marking a significant 20 per cent increase compared to the previous year.

Notably, the education sector received the highest allocation of Rs 21,489 crore, comprising 15.95 per cent of the total budget. 

Following closely, the agriculture, rural, and infrastructure sectors received substantial allocations of 14.05 per cent, 12.06 per cent, and 11 per cent respectively.

Several departments witnessed substantial increases in budgetary allocations compared to the previous year. 

The Women and Child Development Department saw a remarkable 112 per cent rise, while the Public Health Engineering Department received a notable 97 per cent increase. 

The Mineral Resources Department and the Panchayat and Rural Development Department also experienced significant hikes of 80 per cent and 70 per cent respectively.

In line with advancing technological capabilities, Rs 266 crore has been earmarked for investing in advanced digital technologies and IT-enabled services across all administrative levels, from state headquarters to gram panchayats.

A substantial portion of the budget is allocated towards fulfilling 11 "Modi ki guarantee" promises, aiming to address various socio-economic challenges. 

These promises include initiatives such as the Pradhan Mantri Awas Yojana, Mahatari Vandan Yojna, Krishak Unnati Yojna, Jal Jeevan Mission, and support for landless labourers.

Despite the ambitious agenda, the state faces challenges such as a per capita income below the national average and a growth rate lagging behind the national average. 

Finance Minister Choudhary emphasised the need to attract private investment and create a conducive ecosystem for the private sector to thrive.

In response to the budget, former Chief Minister Bhupesh Baghel of the Congress expressed concerns regarding the burden of fulfilling the "Modi ji's guarantees" and criticised the rebranding of existing schemes as new initiatives.

(KNN Bureau)


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