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Globally, both natural and human-induced activities are accelerating biodiversity loss and land degradation, posing a significant threat to food security. Implementing sustainable biodiversity management in the agriculture sector provides a solution by enabling long-term food production, along with preserving environmental health. In this context, biodiversity finance emerges as a valuable tool to strengthen the agricultural sector and achieving Sustainable Development Goals (SDGs). In the Indian context, Madhya Pradesh stands out for its agricultural relevance but faces challenges between productivity and conservation, posing significant challenges and a threat to the state’s long-term sustainability. This study applies to the Biodiversity Finance Initiative (BIOFIN) framework to assess government investments in sustainable agriculture and agricultural biodiversity conservation from 2016 to 2022. Of the INR 21,197.55 crore (~USD 2.46 billion) allocated, approximately INR 4202.03 crore (19.8%) (~USD 0.49 billion) directly supported biodiversity-related agricultural initiatives. While sustainability-focused schemes saw a sharp rise in investment from 26.4% to 87.55%, allocations for conservation awareness declined. No financing gap was identified for achieving targets under the Madhya Pradesh Biodiversity Strategy and Action Plan (2018–2030). The study proposes a BIOFIN aligned investment strategy emphasizing landscape-level management, payment for ecosystem services, and institutional coordination to ensure long-term agricultural sustainability. Full article