MP Budget 2025-26: Tax Rates Unchanged, No New Taxes Introduced

Madhya Pradesh , Mar 12, 2025, By News On Air12

Madhya Pradesh Finance Minister Jagdish Devda presented a budget of 4 lakh 21 thousand 32 crore rupees for the financial year 2025-26 in the state assembly today. No new tax has been imposed in the budget, and no proposal has been made to increase the rate of any tax.

Mr Devda said the government’s goal is to create a developed Madhya Pradesh by 2047. He also stated that a high-level committee will be formed to consider the process of implementing the Unified Pension Scheme for government employees. The Finance Minister announced plans to open 22 new ITIs, establish a fully equipped stadium in every assembly constituency, and set up a digital university and National Defense University in the state. He mentioned that the Ladli Bahana scheme will be linked to central government schemes like the Atal Pension Yojana.

Mr Devda said that a target has been set to build one lakh kilometres of roads in the state. He further announced that on purchasing a new vehicle, a 15 percent discount will be given on Motor Vehicle Tax for transport vehicles and 25 percent for non-transport vehicles.