Bhopal (Madhya Pradesh) [India], October 15 : Madhya Pradesh Chief Minister Mohan Yadav chaired a cabinet meeting held at the state secretariat in Bhopal on Thursday, granting approvals to various proposals and decisions for the all-round development of the state.  
In a major decision, the Cabinet approved the formation of a wholly state-owned company for the integrated development of the Jabalpur-Indore Economic Corridor and other industrial hubs, with an initial paid-up capital of Rs 100 crore from the state government. 
The company will focus on developing industrial parks, logistics hubs, food and agro-processing parks, IT parks, global capability centres and associated residential and social infrastructure. It will have powers related to land management, acquisition, development, zoning and allocation within designated economic hubs. 
“A decision has been taken to establish a new state-owned company through the Industries Department for the development of the Jabalpur-Bhopal-Indore Industrial Corridor. This company will be wholly owned by the state government. The state government has contributed Rs 100 crore as its initial share capital. I will personally chair the company's Governing Council to ensure swift decision-making and enable all departments to work together,” CM Yadav said.
He added, “In the first phase of the project, plans are underway to develop around 10,000 acres of land. Over the next three years, the project is expected to attract investments exceeding Rs 3 lakh crore and generate more than 6 lakh employment opportunities.”
Apart from this, the council of ministers granted approvals to various proposals worth approximately Rs 27,050 crore to accelerate overall development of the state. 
In a key decision for farmers, the Cabinet approved the implementation of the Bhavantar Bhugtan Yojana for soybean growers during the 2026 kharif season under the Centre’s PM-AASHA scheme. Farmers must register on the e-Uparjan portal by October 17, while the designated period for selling soybean at notified mandis will run from October 22, 2026, to January 15, 2027.
The Cabinet also approved Rs 3,076.37 crore for the continuation of irrigation projects in Burhanpur, Raisen, Mandsaur and Singrauli, and Rs 241.88 crore for transportation facilities for students of 94 Sandipani schools operated by the Tribal Affairs Department. The annual transport allocation per student has been increased from Rs 10,000 to Rs 21,000, with a five per cent annual escalation.
Additionally, Rs 2,875.20 crore was approved for the construction and expansion of government schools, hostels, libraries and residential sports facilities, while Rs 15,557.35 crore was sanctioned for the continuation of various schemes under the Law and Legislative Affairs Department during the 16th Finance Commission period, from April 2026 to March 2031.
The Cabinet further approved Rs 3,535 crore for AYUSH colleges and hospitals, Rs 1,697.62 crore for the National AYUSH Mission and Rs 71.81 crore for the State Information Commission.
It also approved the creation of 24 new posts and the redeployment of 12 posts for Women and Child Development Department offices in Niwari, Mauganj, Pandhurna and Maihar districts.