Financial Status of Madhya Pradesh :

The state has an agrarian economy. The major crops of Madhya Pradesh are wheat, soybean, gram, sugarcane, rice, maize, cotton, rapeseed, mustard and arhar. Agriculture continues to remain a major source of employment and livelihood in the state. According to Census 2011, 69.8% of total workers, and 85.6% of the total workers in rural areas are dependent on agriculture for livelihood in the State, as compared to 72.3% in rural India. Thus, significant proportion of rural population is dependent directly or indirectly on this sector. Madhya Pradesh is being honoured “Krishi Karman Award” for the fifth consecutive year from 2011-12 to 2015-16.The state has recorded 18% agriculture growth during the last five years.

Economic growth:  The Gross State Domestic Product (GSDP) of Madhya Pradesh increased from 5.4% in 2014-15 to 12.2% in 2016-17. 
 
Sectoral growth:  Growth in agriculture increased from 3.7% in 2014-15 to 20.4% in 2016-17.  Services sector witnessed a decline from 12.5% in 2015-16 to 8.8% in 2016-17.  During the same period, manufacturing saw an increase of 0.6%.
 
Per Capita GSDP:  Per capita GSDP in 2016-17 was Rs 59,052 crore.  It increased from 3.9% in 2014-15 to 10.6% in 2016-17.

Receipts in 2018-19 :

• In 2017-18, the state’s own non-tax revenue is estimated to be 18.5% (Rs 2,159 crore) less than budgeted.  Borrowings are also expected to be 7.2% (Rs 1,750 crore) less than budgeted.
• In 2018-19, other receipts of the government are expected to see a 16.5% decline over the revised estimates of 2017-18.
• The total revenue receipts for 2018-19 are estimated to be Rs 1,86,699 crore, an increase of 13.7% over the revised estimates of 2017-18. Of this, Rs 65,589 crore (42% of the revenue receipts) will be raised by the state through its own resources, and Rs 90,297 crore (58% of the revenue receipts) will be devolved by the centre in the form of grants and the state’s share in taxes.
• Non-Tax Revenue: Madhya Pradesh has estimated to generate Rs 10,934 crore through non-tax sources in 2018-19.  This is a decrease of 15% over the revised estimates of 2017-18.

As per economic survey of the state 2017-18, the per capita income has increased to Rs 79,907 in 2017-18 from Rs 73,268 in 2016-17, showing increase of 9.06 per cent in 2017-18 compared to the previous year .

As per the budget estimates of FY 2018-19, the total revenue receipts were estimated at Rs 1,39,115.67 crore which is 10.36% higher than previous year while the total debt on the state till March 31, 2017 was estimated at Rs 92,320.48 crore.

The number of MSME units established in the State has been increasing consistently since 2012-13. In the year 2012-13, there were 19894 registered Micro, Small & Medium Enterprises, which increased to 87071 in the year 2016-17. 363812 employment were made by these enterprises till the year 2016-17.

The state is rich in natural resources. Madhya Pradesh is the sole producer of diamond from Panna. It is also a leading producer of pyrophyllite, copper concentrate, manganese ore, clay and shale. The state is perfectly poised for diversification of agriculture and horticulture crops, strategic promotion of agro-based industries. Due to wildlife tourism and a number of places of historical and religious significance, the tourism industry of the state is growing.

State Government has put in place, favourable developmental policies and is also improving its infrastructure facilities. It is one of the fast growing economies in the country.