Latest News | Industry, Services Sectors Contribute 3/4ths of Rajasthan Economy: CM

Jaipur, Jan 20 (PTI) There are immense possibilities for the industry in Rajasthan and, along with the services sector, it contributes three-fourths to the state's economy, Chief Minister Bhajanlal Sharma said on Monday.

He said the state government is creating a favourable environment for both these sectors --industry and services -- so that the resolve to take the state's economy to $350 billion can be fulfilled.

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Sharma was addressing the pre-Budget discussion held in two sessions with representatives of industry, trade, tax advisory associations, and the service sector on Monday.

In the very first year of its tenure, the state government took decisions like organising '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, he said in an official statement.

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Sharma said owing to the efforts of the state government, Rajasthan is making a special identity in all areas such as industrial development, investment, health, education, and tourism.

MSME registrations are increasing rapidly due to investment-friendly policies of the state. In the last one year, about five lakh micro, small, and medium enterprises have been registered and Rajasthan ranks fourth in the registration of such units.

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

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

According to the official statement, Sharma said that tax is not only a means of revenue collection, it is the basis of the development of the state. The state government is working by assimilating the principle that the income from tax should be used in maximum public welfare works.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)