SCENARIO OF BACKWARD DISTRICTS OF MADHYA PRADESH & EFFORTS MADE TO IMPROVE THROUGH INDUSTRIALIZATION BY MPFC - A STUDY

Abstract

The phase of economic stagnation started in 70s was over and a phase of growth revival has started in Madhya Pradesh particularly after the shift in the economic policy from command planning to pro market liberalisation in 1991 [1]. This industrialization has improved the growth rate of several districts of MP. Consistent financial support of Madhya Pradesh Financial Corporation and Madhya Pradesh State Industrial Development Corporation has definitely improved the actual economy of the state but the assistance provided could not improve to the extent that any of these district could have been tagged as developed one. The efforts made should be continued for the upliftment of the state and the society in general. The role of MPFC is critical in the improvement of any state which is economically and industrially backward [2]. Sincere efforts made by the Government although did not show results directly as per number of indicators which were developed to measure the improvement of the districts. However, the improvement during this period was substantial which will support in the upliftment of these districts in the coming decade.