Bhopal: Madhya Pradesh government might be listing agriculture among its topmost priories but the growth rate in farm sector has gone down by 1.61% for the financial year 2017-18, according to the Madhya Pradesh Economic Survey report which was released by the state government on Tuesday.
On the second day of the budget session, the proceedings of House were adjourned after paying homage to several departed dignitaries, including late assembly speaker Sriniwas Tiwari.
The report pointed agriculture in MP is heavily dependent on rains and traditional techniques which warrant heavy investments in the sector. Centre this year had attributed chunk of budgetary allocations to farm sector, and MP government, due to face assembly elections this year, could well follow suit with slew of measures to appease farmers.
Including major crops such as paddy, wheat and maize the overall production of grains has gone down by 30.98% in the financial year 2017-18, says the report. Surprisingly, production of meat which stood at 59 lakh metric tonnes in 2015-16 surged to 79 metric tonnes in 2016-17.
The production of eggs too went up in the financial year 2016-17. MSME sector emerged as bright spot in MP economy as the sector churned out 4,48,712 jobs by Dec 2017-18 which is 37% more than the employment generated by the sector in 2016-17 (3,63,812).
The production of minerals, including coal, diamond and rock phosphate, surged in financial year 2016-17 while the same went down for minerals like Iron, limestone, manganese and others.
Claiming that domestic consumers were receiving 24-hour and farm consumers ten-hour daily power supply, the report claimed power availability of 6560 MW as on Sep 2017, including 3164 MW from renewable energy sources.
The per capita income surged to Rs 79907 as compared to Rs 73268 in the corresponding year. The report underlined the dismal status of employment generation in MP as against the 11.24 lakh jobless youths listed with employment offices, only 422 could be helped in finding jobs.
A prime indicator of any economy’s health, fiscal deficit is expected to be Rs 25688.97 crore by the end of current financial year as against Rs 29898.96 cr recorded in the last fiscal. Interestingly, the fiscal deficit was meagre Rs 14064.71 cr in the financial year 2015-16.
Speaking to News18 (Etv) on Tuesday, Finance minister Jayant Malaiya discarded any possibility of farm loan waiver in the annual budget saying debts could be waived off once but what next. “If we put up a mechanism, where farmers receive justified returns on crops, then it could empower them forever,” he said. The minister would be presenting fifth and last budget of this government in state assembly on Wednesday.
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