CM Bhajan Lal Sharma: Discussion with representatives of industry, trade, tax advisory organizations and service sector before the budget
CM Bhajan Lal Sharma said that the state has huge potential in the field of industry, and the industry and service sectors contribute 75% to the economy of Rajasthan. He also said that the state government is working towards creating a conducive environment for these two sectors to achieve the target of taking the state’s economy to $350 billion. Further, he said that after a thorough review of the suggestions of the representatives, every effort will be made to incorporate them in the upcoming Budget 2025-26.
CM Bhajan Lal Sharma was addressing the pre-budget discussions held in two sessions with the representatives of industry, trade, tax advisory associations and service sector at the Chief Minister’s Office on Monday. He said that industrial development not only strengthens the economy but also provides new employment opportunities to the people. He also informed that in its first year, the state government took important steps like organizing the Rising Rajasthan Summit, implementing new policies for the economic sector, and big investment agreements, which gave a new impetus to the economic direction of the state.
Rajasthan is becoming a land of great opportunities – CM Bhajan Lal Sharma said that with the efforts of the state government, today Rajasthan is making a distinct identity in areas like industrial development, investment, health, education, tourism. Due to the investment friendly policies of the state, the registration of MSMEs has increased. About 5 lakh micro, small and medium enterprises have been registered in the last one year, and Rajasthan ranks fourth in the registration of MSME units. He said that now Rajasthan, the largest state in the country, is becoming a centre of great opportunities. The state has also become a leader in solar and wind energy production.
Efficient financial management is strengthening the economy of the state. CM Bhajan Lal Sharma said that our government has strengthened the economy of the state by effective financial management in a short span of time, as a result of which the growth rate of GSDP in 2024 was 12.56 percent. He also informed that the capital expenditure of the State has been increased to 65.94 per cent.
RIPS 2024 includes plans for inclusive and balanced growth.CM Bhajan Lal Sharma said that the state government has launched the Rajasthan Investment Promotion Scheme-2024, which will lead to balanced and inclusive development of the state and increase employment opportunities. Shri Sharma also said that the Government is committed to the overall development of agriculture and farmers. The government transferred an amount of Rs 650 crore as additional instalment of Kisan Samman Nidhi to 66 lakh farmers directly into their bank accounts. For the first time in the history of Rajasthan, this amount was sent directly to the farmers’ account by the state government. He informed that the State Government has taken several steps to boost industrial development including financial sanction for setting up of 11 new industrial areas, plot allotment for five new Sri Ram Janaki Industrial Areas, financial sanction for Unity Mall and land allotment.
Promotion of development through revenue collection – CM Bhajan Lal Sharma said that tax is not just a means of revenue collection, but it is the basis of development of the state. Income from taxes is being used for maximum public welfare works so that the benefits of development reach every section of the society. He said the revenue generated through taxes is being spent in the areas of education, health, infrastructure and social welfare.
Rational change in VAT rates, relief to the general public -CM Bhajan Lal Sharma said that the state government has taken important decisions to provide relief to the general public. The government reduced VAT rates on diesel and petrol by 2 per cent, resulting in uniformity in oil rates and making oil available to the general public at affordable rates. Also, the VAT rate on CNG and PNG was reduced from 14.5 per cent to 10 per cent.
The industrialists expressed their gratitude to the Chief Minister for the successful organization of Rising Rajasthan Summit. The meeting was attended by representatives of various industry and trade associations, such as CII, Rajasthan Chambers of Commerce and Industries, Forty Rajasthan Chapter, Bhartiya Udyog Vyapar Mandal, Rajasthan Food Products Trade Association, Garment Export Association of Rajasthan, and members of many other organizations.
Among others present on the occasion included the Deputy Chief Minister Mrs. Diya Kumari, Industries Minister Col. Rajyavardhan Singh Rathore, Minister of State for Industries Mr. K. K. Vishnoi, Additional Chief Secretary Energy Mr. Alok, Additional Chief Secretary Finance Mr. Akhil Arora, Additional Chief Secretary (Chief Minister’s Office) Mr. Shikhar Agarwal, Principal Secretary Industries Mr. Ajitabh Sharma, Principal Secretary Revenue Mr. Dinesh Kumar, Principal Secretary Autonomous Department Mr. Rajesh Yadav and Principal Secretary Urban Development Mr. Vaibhav Galriya.