CM Shivraj Singh Chouhan Champions Mutual Fund Growth in Madhya Pradesh

Madhya Pradesh CM Shivraj Singh Chouhan attended the Nivesh Mantrana program, highlighting the significant growth in India's mutual fund industry. He emphasized the need for wise wealth utilization and announced plans to increase the state budget by focusing on efficient spending and encouraging investment in solar technology for farmers.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan took part in the Nivesh Mantrana event assembled by mutual fund distributors in Indore on Friday, drawing attention to the critical importance of judicious wealth management in facing future economic challenges.

Addressing the gathering, CM Chouhan underscored the necessity of fostering industries such as mutual funds amid India's economic progression. He remarked on the exponential growth witnessed in the sector, citing an increase in investments from Rs 10 lakh crore in previous years to Rs 68 lakh crore under Prime Minister Narendra Modi's leadership.

The Chief Minister lauded India's rise to the fifth-largest global economy, attributing rapid systemic changes to Modi's governance. He noted Madhya Pradesh's investment of Rs 1.25 lakh crores in mutual funds and detailed plans to boost the state's budget from Rs 3.25 lakh crores to Rs 7 lakh crores within five years, by enhancing income streams and curbing expenditures like subsidies through initiatives such as providing solar pumps to farmers with federal assistance.

(With inputs from agencies.)