CM Highlights Rajasthan's MSME Growth 500,000 MSME Units Registered In 2024

1/21/2025 4:23:47 AM

(MENAFN- KNN India) Jaipur, Jan 21 (KNN) Chief Minister Bhajan Lal Sharma highlighted Rajasthan's robust economic growth and industrial development during pre-Budget consultations held Monday with industry representatives, trade bodies, tax advisory associations, and service sector stakeholders.

The state has witnessed significant growth in MSME registrations, with approximately 500,000 new micro, small, and medium enterprises registered in the past year, positioning Rajasthan as the fourth-ranked state nationally in MSME unit registrations.

Sharma attributed this growth to the state's investment-friendly policies and indicated that his government had achieved substantial economic progress through efficient financial management, citing a gross GDP growth rate of 12.56 percent in 2024 and a 65.94 percent increase in capital expenditure.

In the agricultural sector, the government demonstrated its commitment to farmer welfare by transferring an additional installment of Rs 650 crore under the Kisan Samman Nidhi scheme directly to the bank accounts of 66 lakh farmers, marking a historic first for the state in terms of direct financial support to the farming community.

The Chief Minister outlined several industrial development initiatives, including financial approval for 11 new industrial areas, land allocation for five new Shri Ram Janaki Industrial Areas, and approvals for the Unity Mall project.

Additionally, the government implemented tax relief measures, reducing VAT rates on diesel and petrol by 2 percent, while also decreasing VAT on CNG and PNG from 14.5 percent to 10 percent.

(KNN Bureau)

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