Indore (Madhya Pradesh) [India], December 20 (ANI): Madhya Pradesh Chief Minister Shivraj Singh Chouhan participated in the Nivesh Mantrana program organized by mutual fund distributors in Indore on Friday.
He emphasized the importance of utilizing wealth wisely in light of future challenges and stressed the need to promote the mutual funds industry.
“I am happy to attend the Nivesh Mantrana program here today. As the country progresses economically, there is a growing need to promote industries like mutual funds. “Given the challenges ahead, we must use our wealth wisely, both for personal growth and for the betterment of the country and the state,” CM Yadav told reporters.
He also highlighted the remarkable growth of the mutual fund industry, noting that investments in mutual funds have increased from Rs 10 lakh crore in the past to Rs 68 lakh crore during the tenure of Prime Minister Narendra Modi.
“We are all going through a different era. It is going to increase our enthusiasm, give us courage and also to take us ahead with big targets for days to come in future. It sounds great that earlier India stood nowhere in economy level but now we reached fifth position in the economy across the globe,” CM Yadav said.
In the changing times, India has changed its systems revolutionarily in a short span of time under the leadership of Modi, the CM said, adding that the Madhya Pradesh government also invested Rs 1.25 lakh crores in mutual funds.
“After forming the government in the state, our state budget is Rs 3.25 lakh crores and our target is to increase it to Rs 7 lakh crores in the next five years. We aim to increase income and control expenses, especially expenses like subsidies. Right now, we give farmers an electricity subsidy of Rs 53,000 out of Rs 60,000 for water pumps. If we provide solar pumps with the help of the Government of India, then our subsidy will also end and the farmers will also stand on their own feet,” CM Yadav said.
60 per cent of the fund will be given by the Government of India and the rest 40 per cent will be provided by the state government, he added. (ANI)
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