UP government releases budget 2022-23, announces development schemes worth over Rs 39,000 crore

UP Government

The Government of Uttar Pradesh led by Chief Minister Yogi Adityanath announced a budget of Rs 6,15,518.97 crore for the financial year 2022-23 on Thursday, 26 May 2022. It is being seen as a masterstroke to achieving the dream of making Uttar Pradesh a $1 trillion economy.

The budget includes new schemes worth Rs 39,181.10 crore and provisions worth crores of rupees to strengthen the police and maintain law and order in the state.

Also Read | UP Strides For Water Security For All

The state government has not only made a record payment of Rs 1,72,745 crore to sugarcane farmers until May 16, 2022, and proposed Rs 1000 crore for payment to the remaining sugarcane farmers. Moreover, the budget also proposes free irrigation facilities to farmers through 34,307 government tube-wells and 252 minor branch canals as well as Rs 1000 crore under Mukhya Mantri Laghu Sinchai Yojana to address irrigation related issues of the state.

Furthermore, the budget proposes accidental insurance of Rs 650 crore for farmers under Mukhya Mantri Krishak Durghatana Kalyan Yojana against Akhilesh Yadav’s Rs 2.50 crore budget for an accidental insurance scheme for farmers.

The state government aims to distribute 2 crore smartphones and tablets in the next five years, including 12 lakh in the current financial year itself. The government has also proposed Rs 897 crore proposed for multi-modal connectivity projects under PM Gati Shakti Yojana and Rs 694. 34 crore for the 594 km long six-lane Ganga Expressway from Meerut to Prayagraj.

The total receipts in the current financial year are estimated at Rs 5,90,951.71 crore, including revenue receipts of Rs 4,99,212.71 crore and capital receipts of Rs 91,739 crore. The share of tax revenue in revenue receipts is Rs 3,67,153.76 crore. This includes its own tax revenue of Rs 2,20,655 crore and the state’s share in central taxes of Rs 1,46,498.76 crore. The fiscal deficit is estimated at Rs 81,177.97 crore which is 3.96 per cent of the estimated Gross State Domestic Product.

Also Read | UP Government to Start Heliport Services in 4 Cities Soon to Boost Tourism

The budget presented in the assembly by Finance Minister Suresh Khanna not only focuses on the education of youth and their employment but also on the empowerment of women and farmers as well as on all-around growth of the state and law and order.