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Uttar Pradesh Finance Minister Suresh Kumar Khanna has unveiled a robust budget for the financial year 2024-25 in the state assembly, with a total outlay of Rs 7.36 lakh crore. This marks a significant increase from the current fiscal year’s budget of Rs 6.90 lakh crore, reflecting the state government’s ambitious plans for growth and development.
The budget for the upcoming fiscal year includes new schemes worth Rs 24,863.57 crore, aimed at addressing various socio-economic challenges and promoting inclusive growth across the state. Despite the challenges posed by the ongoing pandemic and economic uncertainties, the state government remains committed to advancing its agenda of prosperity and progress.
Key Highlights of the Budget:
- Revenue and Capital Receipts: The budget estimates total receipts at Rs 7,21,233.82 crore, comprising revenue receipts of Rs 6,06,802.40 crore and capital receipts of Rs 1,14,531.42 crore. The focus on enhancing revenue streams and mobilizing capital resources underscores the government’s efforts to bolster financial sustainability and fund key initiatives.
- Expenditure Allocation: The total expenditure is projected at Rs 7,36,437.71 crore, with Rs 5,32,655.33 crore allocated for the revenue account and Rs 2,03,782.38 crore for the capital account. The allocation reflects the government’s prioritization of essential services, infrastructure development, and social welfare programs.
- Social Welfare Initiatives: The budget emphasizes the government’s commitment to welfare schemes, including the Destitute Women Pension Scheme, which has been enhanced to provide eligible beneficiaries with Rs 1,000 per month. Additionally, the Women Farmer Empowerment Project aims to support 200 producer groups in the upcoming fiscal year.
- Agricultural Growth: An outlay of Rs 2,400 crore has been proposed for providing electricity at concessional rates to private tube wells of farmers, demonstrating the government’s focus on agricultural development. The increased allocation for the implementation of the PM Kusum Yojana further underscores efforts to enhance farm productivity and income.
- Infrastructure Development: The budget allocates substantial funds for key infrastructure projects, including the Ganga Motorway Project, Maha Kumbh Mela 2025 preparations, and the expansion of Maharishi Valmiki International Airport in Ayodhya. Additionally, investments in the construction of the International Airport in Jewar and the establishment of the National Institute of Fashion Technology (NIFT) in Varanasi highlight the government’s commitment to enhancing connectivity and promoting economic growth.
- Textile and Apparel Sector: A significant allocation of Rs 200 crore has been earmarked for the PM Mega Integrated Textile and Apparel Park in Lucknow-Hardoi, underscoring the government’s efforts to boost the textile and apparel sector and create employment opportunities.
- Connectivity to Religious Places: Recognizing the importance of religious tourism, the budget includes a provision of Rs 1,750 crore for the development of roads leading to religious places, aiming to improve accessibility and enhance visitor experiences.
