Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Madhya Pradesh's Gross State Domestic Product (GSDP) demonstrated a substantial increase of 11.05% over the previous financial year, as reflected in the Economic Survey of Madhya Pradesh 2024-25, which was presented in the state assembly earlier this week. The GSDP at prevailing prices stood at INR 15,03,395 crore, up from INR 13,53,809 crore. Even at constant prices, it exhibited a growth of 6.05%. The state's per capita net income surged from INR 38,497 in 2011-12 to INR 1,52,615 in 2024-25, with inflation-adjusted figures also showing considerable improvement. Sector-wise contributions revealed a decline in the primary and secondary sectors, while the services sector witnessed a positive uptrend.
Madhya Pradesh's Gross State Domestic Product (GSDP), measured at the prevailing price, has grown by 11.05% compared to the previous financial year, underlining the state's resilient economic performance. As stated in the Economic Survey of Madhya Pradesh for 2024-25, which was presented in the state assembly on 11th March, the GSDP at prevailing prices reached INR 15,03,395 crore, marking an increase from INR 13,53,809 crore in the last financial year. Furthermore, at constant prices, the GSDP for 2024-25 amounted to INR 7,12,260 crore, reflecting a real growth of 6.05% from last year's INR 6,71,636 crore. Advertisement
The survey further highlighted that the state's per capita net income, representing the average income per individual, has experienced a noteworthy increase. It was reported that the per capita income had risen from INR 38,497 in 2011-12 to INR 1,52,615 in 2024-25. After adjusting for inflation, the per capita income rose to INR 70,434 in 2024-25, up from INR 38,497 in 2011-12, demonstrating significant growth in real terms.
The primary sector's contribution to the state economy remains crucial, although its share declined slightly in 2024-25, dropping to 44.36% from 44.55% in the previous financial year. Within this sector, the contribution from cereals reduced to 30.90% from 31.10%. Conversely, the animal husbandry sector recorded a modest increase in its contribution, rising to 7.45% from 7.42% last year. The fisheries and aquatic farming sector displayed a notable improvement, with its share increasing to 0.57% from 0.52% in the past year.
The secondary sector, which includes industries such as construction, electricity, gas, and water supply, witnessed a slight decrease in its contribution to the state economy. During 2024-25, this sector accounted for 19.03% of the economy, down from 19.36% last year. Within this, the manufacturing sector saw its share fall to 7.05% from 7.38%, whereas the construction sector posted growth, with its contribution increasing to 9.03% from 8.93%.
Meanwhile, the service sector, which forms part of the tertiary sector, demonstrated positive growth. Its contribution rose to 36.61% from 36.09% in the previous financial year. In particular, the business, hotel, and restaurant segments recorded an increase in their share, growing to 10.37% from 10.09% last year.
Overall, a significant rise in both GSDP and per capita income reflects robust economic health, despite certain sectors experiencing slight declines. The sectoral shifts indicate a gradually diversifying economic structure, with services gaining greater prominence in Madhya Pradesh's economic landscape. The state's focus on balanced sectoral growth is likely to sustain its momentum in the coming years.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
