Announcing that no new taxes are being introduced and that the rates of existing taxes will not be hiked, Madhya Pradesh Finance Minister Jagdish Devda on Wednesday tabled the state’s Budget for 2026-27 worth Rs 4,38,317 crore during the ongoing budget session of the State Assembly in Bhopal.
During the Budget speech, the opposition Congress MLAs raised concerns over the mounting debt burden on the people of the state.
Devda emphasised in his speech that the Budget is focused on the ‘GYANII’ framework — G for Garib Kalyan, aimed at realising the concept of Antyodaya (upliftment of the last person); Y for Yuva Shakti, focusing on skill development and employment-oriented training for youth; A for Annadata, seeking to raise farmers’ income; N for Nari Shakti, promoting women’s empowerment; the first I for development of basic infrastructure and essential facilities; and the second I for Industry, providing facilities to promote industrial investment.
He stated in his Budget speech that the Budget is women-centric, and an allocation of Rs 1,27,555 crore has been made for various women’s welfare schemes, including self-help groups and the Ujjwala Yojana. He also announced that 5,700 hostels would be constructed for working women.
The Budget has made a provision of Rs 23,883 crore for the ‘Laadli Behna Yojana’, under which over 1.25 crore women receive a monthly assistance of Rs 1,500 each. The government has so far disbursed Rs 52,304 crore under the programme since its launch in 2023.
The Finance Minister announced a special provision of Rs 3,600 crore for the mega religious event Simhastha Kumbh to be held in 2028 at Ujjain, the hometown of MP Chief Minister Dr Mohan Yadav.
The Finance Minister informed the House that a revenue surplus of Rs 44.42 crore is estimated. The Gross State Domestic Product (GSDP) is estimated at Rs 18,48,274 crore, which represents a 10.69 per cent increase. He said the per capita income increased by 9.23 per cent compared to 2023-24 and reached Rs 1,52,615 in 2024-25.
The Finance Minister also announced an allocation of Rs 10,428 crore for the rural employment guarantee scheme ‘G RAM G’.
He noted that an investment of more than Rs 1 lakh crore has been made in infrastructure development, which is the highest in the state’s history.
Devda, who also serves as the state’s Deputy Chief Minister, pointed out that this is the state’s first rolling budget.
Referring to the rolling-budget provision introduced for the first time for carrying forward funds to the next fiscal, Devda said, “Unlike traditional budgets, this approach extends planning beyond a single financial year. It signals a move towards predictable, adaptive, and growth-oriented budgeting, aligned with long-term development priorities.”
Explaining the rolling budget Framework, the minister said, “A rolling budget is not static. It is revised periodically to reflect changing economic conditions, policy outcomes, and fiscal realities. Each year, the budget rolls forward by adding another year to the planning horizon.”
Devda said the Budget is aimed at realising the vision of a “Prosperous Madhya Pradesh, Affluent Madhya Pradesh, Pleasant Madhya Pradesh and Cultural Madhya Pradesh.”
“The focus is on comprehensive and inclusive development, good governance, environment, tourism and cultural revival. A forward step towards achieving PM Narendra Modi’s aim of a Viksit Bharat@2047, through a Prosperous Madhya Pradesh@2047”, Devda stated.
CM Dr Mohan Yadav lauded the Budget and termed it as the fulfilment of the government’s commitment to development.
“Today, the passing of a Budget of about Rs 4,38,300 crore is a fulfilment of our commitment to development. Especially in the Year of Farmers’ Welfare, more than Rs one lakh crore has been allocated for agriculture-related development works for farmers,” the CM asserted.
Meanwhile, during Devda’s budget speech, Congress MLAs raised slogans over the non-enhancement of the MLA fund and trooped into the well of the House.
Later, reacting to the Budget, Leader of Opposition Umang Singhar alleged that it is based on false figures and empty promises.
He claimed that the BJP government in the state had again taken a debt of Rs 5,600 crore just before the Budget session, calling it a clear sign that the state is being burdened with debt.
He said that this Budget is a deception and completely disconnected from the ground reality.
Singhar said that this Budget is not a document of development, but a document of illusion.
“The Budget attempts to mislead the public by presenting false figures,” he alleged.