Uttar Pradesh’s government presented its eighth budget on 5th February 2024, with Finance Minister Suresh Khanna asserting that it is an inclusive budget that is comprehensive focusing on all-around development. The State Finance Minister Suresh Khanna presented a record budget of ₹7.46 for lakh crore for the fiscal year 2024-25 in the state assembly compared to the previous year’s budget of ₹6.90 lakh crore. Some of the key highlights of the budget are as follows:
- State’s Fiscal deficit at 3.46% of the State’s Gross Domestic Product (SGDP)
- Out of the total expenditure, ₹5,32,655 crore has been allocated for the revenue account and ₹2,03,782 crore for the capital account.
- Excluding the total expenditure from the receipts of the consolidated fund, a deficit of ₹15,103 crore is estimated in the budget.
- ₹1,100 crore announced for development of Airline Runways across the state
- A provision of ₹150 crore was proposed for further development and expansion of the Ayodhya airport.
- FM said that continuous efforts are being made by the state government to increase air connectivity in the state through the Regional Connectivity Scheme (RCS-‘UDAN’) of the Government of India and the “Uttar Pradesh Civil Aviation Promotion Policy”.
- Compared to 2023, there has been an increase of 19.2% in the number of passengers traveling by air in the current financial year.
- The budget allocated for the Ganga Expressway project is ₹2,057 crore.
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- ₹500 crore is allocated for the Link Expressway, 346 crore for Agra Metro, and 400 crore for the Atal Industrial Infrastructure Mission.
- ₹3,948 crores was allocated for the PM-Awas scheme and ₹3,668 crores for PM-Gram Sadak Yojana
- ₹7,350 crore was allocated for the National Rural Health Mission.
- ₹1,100 crore is being allocated for supplying free water to farmers for harvesting crops.
- UP’s budget session forecasts 5.1% agricultural growth in FY2024-25
- UP Government allocated approximately ₹1,000 crore for improving healthcare facilities
The state aims at the target of 5.1% for agriculture growth for the current year - At ₹7.36 lakh crore, this is the biggest budget in the history of UP.
The total capacity of the power transmission system, which was 16,348 MW in the financial year 2016-17, has been increased to 28,900 MW in the year 2023-24. The target is to be increased to 31,500 MW by the financial year 2024-2025 end. - In 2025, more than 1.10 crore people will get employment in Uttar Pradesh.
- The state government has increased support for destitute women’s pensions from ₹500 to ₹1,000 monthly which will benefit around 30 lakh women
- ₹2.33 lakh crore disbursed to Sugarcane farmers
- Famers received ₹63,000 crore under Kiasn Samaan from the government
- The state has received an investment proposal worth ₹40 lakh crore in the Investors Summit
These aforementioned allocations and announcements appear to be promising in shaping the future of the people of Uttar Pradesh.
