Imprudent financial decisions by Central Government and former BJP-ruled State Government has led the State into deep financial crisis said CM Kamal Nath.
In his blog, Nath stated that presently more than 87 percent domestic consumers have been benefitted by “Indra Grah Jyoti Yojana” as electricity bill has reduced to 30-40 percent and along with this “Jai Kisan Fasal Rin Maafi Yojana”
In the earlier BJP-ruled State Government resources were wasted over publicity which was person centric political campaign with the sole aim to promote and propagate false fame.
The pro-people schemes should reach each and every person of the society.
After the union budget whole country has fallen into deep financial crisis and state is also among the sufferers.
In the past 23 years it is for first time that GDP fell for consecutive 6 quarters.
The GDP rate for the year 2019-20 has been projected as 5 percent which shows impacts of financial policies over the economy.
Today, the youth of the country is the most depressed section of the society due to high level of unemployment in the past 45 years.
The fiscal deficit would increase in the year 2021 which would restrict spending on infrastructure impacting in two ways one would impact over GDP growth rate and increase in unemployment.
The central government shared Net Tax Revenue was short of Rs 7.49 lakh crores while Total expenditure has difference of Rs 6.86 lakh crores that means that till December 2019 fiscal deficit was 132 percent.
The share of tax of Madhya Pradesh has been reduced by Rs 14,233 crores and this is for the first time that share of taxes of states has been reduced to such low levels in the past 50 years.
Madhya Pradesh has also faced discrimination as funds for scheme run by Central Government has been not provided to the fullest. For different schemes State has received Rs 5,061 less from the total amount.