Chief Minister Mohan Yadav oversaw a significant incentive distribution event by the MSME Department, where he revealed the allocation of over Rs 169 crore to aid industries and startups. During the ceremony, the government approved a final dividend of Rs 8 crore for the Madhya Pradesh Laghu Udyog Nigam for the years 2020-2024. Moreover, Rs 16.95 crore was granted as Investment Assistance to 257 industrial units, with an additional Rs 8.6 crore provided as administrative support.
The allocated funds are being immediately transferred through DBT (direct benefit transfer). Notably, three industrial units received land allotment orders, and one unit received an assistance letter under the Chief Minister’s Enterprise Scheme, each of which will also receive a grant of Rs 5 lakh. The Chief Minister’s administration highlighted the digitalization of the land allotment process, noting a significant increase in allotments from 2019 to 2024 compared to the current year.
The state has witnessed a surge in startups, reaching a total of 7,200, with over Rs 3,000 crore disbursed as Investment Promotion Assistance in the last two years. Under the ‘Mukhyamantri Udyog Kranti Yojana’, the state has already surpassed its target by covering 10,473 beneficiaries against the initial goal of 8,000 beneficiaries. Looking ahead, the budget for industrial incentives is set to rise substantially from around Rs 8,000 crore to Rs 28,000 crore in the upcoming years, showcasing a strong commitment to industrial growth.
Chief Minister Yadav declared the forthcoming year as the ‘Year of Farmer Welfare’ and announced plans for joint agriculture-industry conferences to boost food processing units, aiming to enhance farmers’ income through local value addition. The government has cleared all pending subsidies since 2019, with a commitment to continue releasing fresh incentives quarterly without delays.
