Bhopal, Oct. 15 -- Madhya Pradesh Chief Minister Mohan Yadav on Thursday announced that the state Cabinet had approved the formation of a wholly state-owned company to develop the Jabalpur-Indore Economic Corridor and selected industrial and economic hubs along the route.
Addressing a press conference after the Cabinet meeting, Yadav said the council of ministers had also cleared proposals worth around Rs 27,050 crore, including the implementation of the Bhavantar Bhugtan Yojana to ensure minimum support price (MSP) benefits for soybean farmers during the 2026 kharif season.
The Jabalpur-Indore Economic Corridor Development Company Ltd will be established as a special purpose vehicle (SPV), with an initial paid-up capital of Rs 100 crore. It will oversee the integrated development of industrial parks, food and agro-processing parks, logistics facilities, technology and IT parks, and global capability centres.
The company will also facilitate land management, zoning, master planning and the development of internal and common infrastructure within designated economic hubs. However, construction of the main road or corridor will remain outside its mandate.
Yadav said the Cabinet had approved the Bhavantar scheme under the Centre's PM-AASHA. Registered soybean growers will be eligible for compensation based on the minimum support price, actual sale price and the declared model rate. Payments will be transferred directly to eligible farmers' bank accounts.
The CM said the Cabinet had also sanctioned Rs 3,076.37 crore for the continuation of four irrigation projects in Burhanpur, Raisen, Mandsaur and Singrauli. Another Rs 2,875.20 crore was approved for the construction and expansion of government schools, hostels, libraries and residential sports facilities.
Additionally, Rs 241.88 crore was sanctioned for transportation facilities for students of 94 Sandeepani schools.
The Cabinet also approved 24 new posts for district-level Women and Child Development offices in the newly formed districts of Niwari, Mauganj, Pandhurna and Maihar, Yadav informed reporters.
Published by HT Digital Content Services with permission from Millennium Post.