Economy of Madhya Pradesh comprises of agriculture and industries of Madhya Pradesh. In fact, industries and agriculture form the backbone of economy of Madhya Pradesh, whereas the supporting bones are mining, tourism and banking.
- Banking and Finance
Talking about the first aspect of the economy of Madhya Pradesh, we can mention that Madhya Pradesh is an agricultural state where the main occupation of the people is agriculture.
In spite of the growth of industries, agriculture is moving steadily in the economic backdrop of the state.
Some of the important crops that are vital to agriculture in Madhya Pradesh are follows, along with a study of their average production (in kilogram per hectare):
- Rice - 1,058
- Wheat - 1,867
- Javar - 1,342
- Gram - 932
- Soybean - 1,132
- Sugarcane - 4,215
- Cotton - 557
- Net Area Sown - 15,048 hectares
- Gross Cropped Area - 19,891 hectares
- Double Cropped Area - 4,843
- Net Irrigated Area - 5,631
- Gross Irrigated Area - 5,776
- Food Grains - 158.72 .
- Soybean - 47.09.
- Total Oil Seeds (including Soybean) - 55.86.
- Sugarcane - 2.18.
- Cotton - 6.58.
The Government of Madhya Pradesh first formulated a Madhya Pradesh Mineral Policy in 1995. Mining and mineral wealth considerably contributes to the development of the state and thus, the nation. The Government of India announced a National Mineral Policy in respect of non-fuel and non-atomic minerals in 1993.
Pre-bifurcation Madhya Pradesh contained vast mineral deposits and the scope of mining was immense. However when the state was divided in 2002, deposits of minerals like Iron ore, Tin ore, Corundum, Coal, Limestone, Dolomite and Bauxite passed over to Chhattisgarh. So it became imperative to introduce a new mining policy to mark formerly unidentified mineral deposits and ensure mining takes place scientifically to maintain environmental balance.
Mining in Madhya Pradesh seeks :
- to unearth new mineral deposits by current techniques.
- to modify rules so that minor mineral quarries are distributed without auction to co-operative societies of members of Scheduled Castes, Scheduled Tribes and traditional miners.
- to conduct systematic, scientific exploitation of minerals.
- to prioritize minerals with minimum ill effects on environment and forest resources.
- to promote research and development of minerals.
- to develop mineral based industries.
- to promote export of minerals.
- to enhance employment opportunities in the mining sector.
- to create a mining advisory board.
Private individual organizations with excellent financial status and technical skills are inspired to take up prospecting projects for diamond, gold and other precious minerals.
Some of the integral minerals mined in Madhya Pradesh are:
- iron ore
- rock phosphate etc.
Madhya Pradesh tourism offers some very popular tourist spots. The main attractions of Madhya Pradesh tourism are Khajuraho temples in the northern part and Bandavgarh and Kanha in the eastern region.
Monuments of Madhya Pradesh Tourism:
The stoneworks of the place bear the history of empires, warriors, and philosophers. The giant fort of Gwalior evokes memories of a momentous past. The series of temples and forts of Orchha has a medieval touch. Mandu bears testimony of the time when the Afghans marched in and crafted its stones. At Khajuraho, poetry is created on stone by the warrior race of Chandella Rajputs. The oldest Buddhist shrines at Sanchi reflect the glory of Ashokan times.
Holy Places of Madhya Pradesh Tourism:
Exquisite temples, mosques, bathing ghats and shrines are sanctified with faith. Pilgrims venerate the gods in the temples of Ujjain, Omkareshwar, and Maheshwar, and the mosque of Bhopal.
Wildlife of Madhya Pradesh Tourism:
Wildlife like tigers, spotted deer, wild boar, gaur and hundreds of species of birds roam free in the bamboo and sal forests of Kanha, Shivpuri, Panna and Bandhavgarh.
Festivals of Madhya Pradesh Tourism:
Dusshera at Bastar, Simhastha at Ujjain, Ramnaumi at Chitrakoot, Bhagoriya at Jhabua, and the annual dance festival at Khajuraho are popular throughout the country.
Besides, these ,industry and banking sectors are also working wonders in the economy of Madhya Pradesh. All the industries put together help the economy of Madhya Pradesh soar upwards. Last Updated on : 14th March 2013