Special Article
Chhattisgarh’s Path to Economic Prosperity: Key Initiatives in the 2024-25 Budget
Deputy Director Ghanshyam Kesharwani
Aiming to advance Chhattisgarh towards prosperity, the State Government has unveiled its budget for the fiscal year 2024-25, outlining a comprehensive roadmap for development. It includes a strategy to promote the service sector, set to benefit the state’s youth and entrepreneurs across various promising domains including the IT sector, health tourism, eco-tourism, wedding destination, business tourism, and conference destination.
In an effort to boost investment and attract more investors, the budget signifies a shift away from technical obstacles, favouring a ‘red carpet’ approach over ‘red tapism’ to attract industries. Under the mantra of ‘Minimum Government, Maximum Governance’, streamlined policies such as ease of doing business, single window systems, online permissions, and minimal red tape will be implemented. Leveraging expertise from NITI Aayog and the Indian Institutes of Management, the state aims to promote public-private partnerships for sustainable growth.
Recognizing the diverse geography of Chhattisgarh, the budget stresses decentralized economic development, with the establishment of development pockets across the state. In addition, plans are underway to develop Raipur, Bhilai, and the surrounding areas as the state capital. Moreover, these regions will be transformed into world-class hubs for the IT sector, wedding destinations, and health destinations. The establishment of a ‘Livelihood Center of Excellence’ in Nava Raipur and Atal Nagar, along with a ‘Center of Entrepreneurship’ in Durg district, is also part of the agenda. An incubation center will be established to encourage startups and an IT Park will be set up to attract BPO and KPO industries.
This year’s state budget also includes provisions for the development of major cities like Raipur, Nava Raipur, Atal Nagar, Bilaspur, Durg, Bhilai, Ambikapur, Jagdalpur, Korba, and Raigarh as growth engines. Industrialization policies will be tailored to meet the needs of areas such as Korba, Janjgir, Raigarh, Urla, and Siltara. In addition, agriculture-based development will be promoted in the plains areas and special emphasis will be laid on strengthening the rural economy.
In terms of economic development in the Bastar-Surguja region, significant initiatives will focus on increasing air connectivity and developing these areas as eco-tourism and naturopathy destinations. To boost tourism, five Shaktipeeths of the state will be developed from both religious and tourism perspectives. Industries will be established in the Bastar region for processing minor forest produce, while the potential for horticulture and fish farming will be encouraged in the Surguja area. These coordinated efforts aim to materialize the economic potential of these regions.
Chief Minister Vishnu Deo Sai has reiterated the government’s commitment to strengthening the economy, stating, “Our aim is to make Chhattisgarh developed.” The government will adhere to the roadmap outlined in the budget to fulfill the vision of ‘Viksit Chhattisgarh’. The budget has numerous provisions aimed at rapidly advancing the state’s economy and attaining a high growth rate. Besides, capital expenditure has been increased in this year’s state budget.
