Govt creating favourable environment for industry, service sectors: Rajasthan CM

Jaipur, Jan 20 (IANS) Rajasthan Chief Minister Bhajan Lal Sharma on Monday said that his government has been creating a favourable environment for the industrial and service sectors so that the resolve for a $350 billion state economy can be fulfilled.

He said that after proper examination of the suggestions of the representatives, every effort will be made to include them in the upcoming budget of 2025-26.

CM Sharma said this while addressing the pre-budget discussion held in two sessions with representatives of industry, trade, tax advisory associations and the service sector in the Chief Minister's Office on Monday.

He said that along with strengthening the economy with industrial growth, people also get employment opportunities.

He said that in the very first year of its tenure, the state government took decisions like organising the Rising Rajasthan Summit, implementing new policies for the economic sector, making big investment agreements, which gave a new impetus to the economic direction in the state.

CM Sharma said that due to the efforts of the state government, today Rajasthan is having a special identity in all areas like industrial development, investment, health, education, tourism.

MSME registrations are increasing rapidly due to the investment-friendly policies of the state, he said.

In the last one year, about 5 lakh micro, small and medium enterprises have been registered and Rajasthan ranks fourth in the registration of MSME units.

He said that Rajasthan, the largest state in the country, is now becoming a land of big opportunities.

The state has also become a leading state in solar and wind energy production, CM Sharma said, adding that "our government has strengthened the economy of the state with efficient financial management in a short period, as a result of which the growth rate of GSDP has been recorded at 12.56 per cent in 2024".

He said that the capital expenditure of the state has also increased by 65.94 per cent.

The Chief Minister said that the Rajasthan Investment Promotion Scheme-2024 has been brought by the state government, which will promote balanced and inclusive development and employment opportunities of the state.

CM Sharma said that the government is committed to the overall development of agriculture and farmers.

The government transferred an additional installment of Rs 650 crore of Kisan Samman Nidhi to 66 lakh farmers directly into their bank accounts. For the first time in the history of Rajasthan, such a huge amount was transferred directly to the bank accounts of the food producers of our state by the state government.

He said that the state government has taken various steps for industrial development including financial approval for the establishment of 11 new industrial areas.

"Our government rationalised the prevailing VAT rates on diesel and petrol and reduced it by 2 per cent, as a result of which there was uniformity in the rates and the common people also got oil at cheaper rates. Also, the VAT rate of CNG and PNG was reduced from 14.5 per cent to 10 per cent," he added.