Industry bodies hail MP budget, says it will boost investment

Indore, Feb 18 (PTI) Industrial organisations in Madhya Pradesh on Wednesday said the provisions made in the state Budget will boost investment, infrastructure, and job creation.

Earlier in the day, State Finance Minister Jagdish Devda unveiled the state's budget for the financial year 2026-27 -- probably the first rolling budget of the country -- with an outlay of Rs 4.38 lakh crore and a six-pronged development framework focusing on the women, poor and farmers.

He announced that no new taxes have been levied.

Yogesh Mehta, the president of the Association of Industries Madhya Pradesh, said that a positive initiative has been taken to promote investment and industrialisation through a budgetary provision of Rs 5,957 crore.

The Association represents micro, small, and medium enterprises (MSMEs).

Mehta said the development of 48 new industrial parks will accelerate investment.

He added that the budget emphasises infrastructure expansion, skill development, and employment-oriented training programmes, which will help the state develop into a major industrial hub in the country.

Dr Gautam Kothari, President of the Pithampur Industrial Association, said that the provisions made in the budgets unveiled by the Central and state governments, respectively, will make Pithampur a global manufacturing hub.

"The significant allocation for the Pithampur Economic Corridor, in particular, will open new doors to prosperity. This corridor will reduce freight costs by 12 to 15 per cent, making products manufactured in Pithampur factories more competitive in the global market," he added.

Kothari said the budget provisions for the development of a FinTech City and data centres have opened the way for new investments of approximately Rs 15,000 crore in these sectors. PTI HWP MAS NSK