The Finance Minister of Uttar Pradesh Unveils a Rs. 7.36 Lakh Crore Budget, With Ayodhya Receiving Rs. 100 Crore
A record Rs 7.36 lakh crore budget for the fiscal year 2024–25 was presented by Uttar Pradesh Finance Minister Suresh Kumar Khanna to the state parliament on Monday, with an emphasis on youth development, agriculture, and infrastructure improvements to holy sites.
The state finance minister said during the budget presentation that new initiatives of Rs 24,863.57 crore are included in the overall expenditure of Rs 7,36,437.71 crore for the next fiscal year. The state allocated Rs 6.90 lakh crore for 2023–24, which includes new projects of Rs 32,721 crore.
The state government has projected total revenues of Rs 7,21,233.82 crore for the next fiscal year. This amount comprises predicted revenue receipts of Rs 6,06,802.40 crore and capital receipts of Rs 1,14,531.42 crore.
The state’s portion of the central tax pool, which is Rs 2,18,816.84 crore, and its own tax income, which is Rs 2,70,086 crore, make up the anticipated Rs 4,88,902.84 crore share of tax collection in revenue collections.
The anticipated total cost comes to Rs 7,36,437.71 crore.
Rs 2,03,782.38 crore has been set aside for the capital account and Rs 5,32,655.33 crore for the revenue account out of the total expenditure.
A deficit of Rs 15,103.89 crore is predicted in the budget after subtracting all expenses from the consolidated fund’s income.
According to Khanna, the qualifying recipients’ monthly payment under the Destitute Women Pension Scheme would now be Rs 1,000 instead of Rs 500.
Up to 31,28,000 impoverished women have benefitted from the program as of the third quarter of 2023–2024.
The minister said that the goal of the Women Farmer Empowerment Project is to develop 200 producer groups in the fiscal year 2024–2025 in order to give technical assistance.
PRIORITIES FOR YOUTH, HOLY PLACES
The budget includes Rs 4,000 crore for the free gifting of smartphones and tablets to young people.
The Ganga Expressway project has been given a budget of Rs 2,057 crore. The Maha Kumbh Mela preparations in 2025 will cost Rs 2,500 crore. Ayodhya’s overall development will receive Rs 100 crore, Maharishi Valmiki International Airport expansion will cost Rs 150 crore, international airport construction in Jewar, Gautam Budh Nagar, will cost Rs 1,150 crore, NIFT establishment in Varanasi will cost Rs 150 crore, and PM Mega Integrated Textile and Apparel Park in Lucknow-Hardoi will receive a budget of Rs 200 crore.
A GRIP ON AGRICULTURAL EXPANSION
The budget for the next fiscal year in Uttar Pradesh has established a goal of 5.1% growth rate for the state’s agricultural sector.
The budget includes Rs 460 crore for three new programs pertaining to agriculture.
Three initiatives were unveiled by Finance Minister Suresh Kumar Khanna to advance the agricultural industry.
A budget of Rs 200 crore would be allocated to the State Agricultural Development Scheme, one of the schemes.
Another Rs 200 crore has been set aside for the UP Agris Scheme, which is supported by the World Bank.
The state finance minister said that Rs 60 crore has been allotted for the third project, which calls for installing automated weather stations and automatic rain gauges in blocks and panchayats.
He said that a Rs 50 crore budget is also being set aside for the Chief Minister’s Khet Suraksha Yojna, or Farm Security Scheme.
Additionally, a budget of Rs 2,400 crore has been suggested to provide farmers’ private tube wells with power at discounted prices. The sum is twenty-five percent greater than the current fiscal year’s budget for the same thing.
According to Khanna, the planned amount for the PM Kusum Yojana’s execution is Rs 449.45 crore, more than double the amount allocated for the current fiscal year.
