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Madhya Pradesh’s Economic Survey Shows Unemployment and Debt Rising, Ahead Of Budget

Madhya Pradesh's Economic Survey Shows Unemployment and Debt Rising

Madhya Pradesh’s economic survey shows unemployment and debt rising, ahead of budget

Ahead of Madhya Pradesh 2022-23 budget presentation on Wednesday, the economic survey showed both debt and unemployment are increasing.

In MP, Finance Minister Jagdish Deora will present the budget for 2022-23 in the assembly on Wednesday. 

Before the budget session, Congress Legislature Party had passed a resolution demanding the protection of cows, a big announcement about cow protection is possible in the budget. 

As per the economic survey presented in the assembly, both debt and unemployment are increasing. 

The net public debt is expected to be around Rs 2,09,019.47 crore against Rs 1,59,008.74 crore in March 2020. The market component of this debt is 60.80 per cent. 

The state’s per capita income has been estimated to go up to Rs 1,50,326 from Rs 1,24,685 last year’s estimated per capita income, an increase of 18.87 per cent, which is still 35 per cent lower than the national average. 
In 2020, the number of unemployed in the state was 24.72 lakh which went up to 30.23 lakh in 2021. The percentage of educated youth has also gone up from 93.37 per cent (of the total unemployed) to 95.07 per cent. 

So a total of 5.46 lakh unemployed have increased in the state in the last year, and 35 per cent unemployed in the state are graduates. 

The per capita income was Rs 1 lakh 4 thousand 894 in 2020-21, which has increased to 1 lakh 24 thousand 685 in 2021-22. But still, it is much less than the national level.

Despite spending Rs 3500 crore on primary school education, children taking admission in schools fell by 1.80 lakh in a year. The school dropout rate in primary classes has gone up to 1.35 per cent from 1.05 per cent, whereas in middle classes, it has gone up to 6.36 per cent from 4.22 per cent. 

The government has given Rs 380.96 crore compensation for the flood victims. On the other hand, in the case of death due to snakebite, compensation of 78.83 crore was distributed to the victim’s family.

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