MP to invest Rs 2.25 lk cr on development

Madhya Pradesh will invest as much as Rs 2.25 lakh crore towards rural and urban development in the next 4-5 years, Chief Minister Shivraj Singh Chouhan said today.
"We will invest Rs 1.5 lakh crore on rural development in the next four years and will provide housing for all under the mission. Also, the state will invest Rs 75,000 crore towards enhancing the urban infrastructure like sanitation, solid water management and water availability," Chouhan said addressing industrialists here.
Addressing business delegates during a seminar on 'Investment Opportunities in Madhya Pradesh', Singh said the state has very well taken care of the "ease of doing business" factor and invited them to establish themselves there.

The seminar was in preparation towards state's next Global Investors Summit to be held on October 22-23 this year in Indore.
"Madhya Pradesh provides a convenient and single window clearance business-enabling environment. The state is a high destination for making investments," he said.
In the previous Global Investors Summit held in 2014, the total investment commitment of Rs 6 lakh crore came in and the state has already put to use Rs 2 lakh crore, Chouhan said.

The state which was once a 'BIMARU' state, has now become one of the fastest growing states of the country and has been clocking a double digit growth for the past seven years continuously.

Besides, being an agriculture-based economy, state's agricultural growth is more than 20 per cent for the past four years consecutively, he added.
"We have abundant land with land-bank capacity of as much as 26,000 acres. Those who want to set up their businesses in the state can approach us. We can allot you land," he said.
However, the per capita income of Madhya Pradesh is still very low at about Rs 1,500 (per month), and there is a need to increase it to lower the levels of poverty in the state, the chief minister said.
Among others, Madhya Pradesh has huge availability of water for industries, skilled and cheap man power, he said.

"I work as the CEO (Chief Executive Officer) of the state, not as CM. I want to eliminate poverty from the state. I want to promote tourism in the state because it has huge potential to generate jobs," he added.
Chouhan said the development work will be incomplete without taking care of the small businesses and rural sector.
"We have 23,000 gram panchayats in the state. We will set up small scale industry in every gram panchayat, in whichever area it has excellence, so that the rural segment is not left neglected."
Besides, the state government will also set up a separate ministry for micro, small and medium enterprises (MSME) and create a 'Ministry of Happiness'.

To promote young entrepreneurs, the state also plans to provide them subsidised capital ranging from Rs 10 lakh to up to Rs 1 crore at concessional rates using the banking channel.