6 hours agoAuthor: Devanshu Tiwari
All records were broken in the second budget of Yogi Sarkar 2.0. For the first time in history, the biggest budget was presented. The total budget was Rs 6 lakh 90 thousand crore. Maximum focus was given on infrastructure and business sector. Finance Minister Suresh Khanna mentioned the Global Investors Summit several times while presenting the budget. He said, “A total of Rs 35 lakh crore MoUs were signed in the summit. With its help, UP is emerging as the country’s new growth engine in the industrial sector.”
In the budget, it was said to set up industrial setup at 6 places along the Purvanchal and Bundelkhand Expressway. From pharma parks to cottage industries, it has been announced to set up unity malls in villages. The Finance Minister informed that a fund of Rs 345 crore has been arranged for the weavers and powerloom sector. For the start of new startups, the government has released a separate fund of 60 crores.
- Let us first know what new announcements have been made by the Yogi government in the infrastructure and business sector. After this, we will also know what the experts have to say on the budget.
UP Finance Minister Suresh Khanna presenting the 72nd budget of UP in the Vidhansabha.
Declaration 1: Around 25 policies have been included to bring investment in sectors like IT/ ITES Data Centre, ESDM, Defence- Aerospace, Electric Vehicle, Warehousing, Logistics, Tourism, Textile, MSME.
Declaration 2: Expressways are being built to establish good transport facilities in UP. It has been decided to set up new industrial setups at 6 places along the Purvanchal Expressway and Bundelkhand Expressway. In this, industrial construction will be done at 4 places along the Purvanchal Expressway and 2 places along the Bundelkhand Expressway.
Declaration 3: A separate arrangement of Rs 25 crore has been made for the establishment and development of Pharma Parks in UP.
Declaration 4: The UP government has registered a 15% increase in employment generation under the MSME Policy-2022. For the first time, a fund of Rs 4 crore was announced to set up MSME industry.
Declaration 5: Unity malls will be set up in the districts to promote marketing of ODOP and handicraft products in different districts of the state. For this, a provision of Rs 200 crore has been made in the budget.
Declaration 6: A fund of Rs 13 crore has been arranged for the development of Khadi and village industries and promotion of self-employment. To promote investment in the textile sector, a budget of Rs 150 crore has been arranged for cottage industries under the UP Textile and Garmenting Policy-2022. Under the Garmenting Policy-2017, a provision of Rs 175 crore is proposed.
Declaration 7: A fund of Rs 345 crore has been arranged for the weavers and powerloom sector. Along with this, Rs 20 crore will be arranged for CM Powerloom Industry Development Scheme and Rs 10 crore for CM Weaver Solar Energy Scheme.
Declaration 8: An arrangement of Rs 3600 crore has been made to promote IT and electronic sector in UP. In this, a target has been set to make 20 million tablets/smartphones in the next 5 years.
Declaration 9: A provision of Rs 401 crore has been made for the UP Electronics Manufacturing Policy. An arrangement of Rs 85 crore 89 lakh has been made for state data centres.
Declaration 10: A provision of Rs 60 crore has been made for the UP Information Technology and Startup Policy.
Now…
Till now you have come to know the main things related to infrastructure and business sector in the budget. Next let’s know the opinion of the experts on the budget 2023-24…
Expert 1: Yogi government’s budget passed with distinction
Economic consultant and CA Ashish Pathak says, “This is the best budget ever for industries in the history of UP. UP is the largest state in India’s GDP contribution. Decisions have been taken. Maximum expenditure has been made on roads, airports and expressways in the budget. Especially the government’s intention to develop the edges of expressways as economic corridors is commendable.”
In the budget, it was talked about developing the banks of Bundelkhand and Purvanchal Expressway as an economic corridor.
“In the Union Budget, Nirmala Sitharaman had said that the MSME sector accounts for 60% of the country’s GDP. In view of this, the Yogi government has also allocated a separate fund of 4 lakh crores for MSMEs. This decision will help the cottage industries of the villages and the women themselves. Will work for support groups.
“Similarly, in the IT/Electronic sector, a fund of Rs 3600 crore has been released for the first time to mobile-tablet based industries. This announcement will prove to be a milestone in realizing the objective of Digital India.”
Expert 2: Nothing special in the budget for women entrepreneurs
Professor Bharti Pandey, Head of the Department of Economic Science at KKC College, Lucknow, says, “Yogi government did not bring any special scheme for women entrepreneurs this time. More focus has been given on the IT sector. Perhaps in the last budget, the government has given more attention to women industries, especially A lot of budget was allocated for self-help groups. That’s why this time the government left the share of women entrepreneurs blank.”
Professor Bharti praised the government’s decision to form 3 new women PAC battalions. He told that a fund of 13 crores has been fixed for the development of Khadi-Village Industries and promotion of self-employment. This will greatly benefit the women workers of the villages.
Expert 3: The budget given to weavers and handloom is still less, need to increase further
According to economist Mulayam Singh Yadav, the announcements made by the government in the budget for the weavers and handloom sector are not enough. Instead of setting up new factories, it would have been better if the government had reduced the rates of electricity supplied to the existing factories. However, this time the budget includes the announcement of providing cheap electricity to the weavers. But you also know how long it takes for announcements to materialize.
Mulayam says, “I am a resident of Abedkar Nagar. I have closely seen the condition of handloom artisans there. If the government wants the textile industry to grow, then first of all it has to bring a big scheme like MNREGA for cottage industries. Otherwise That day is not far that the handloom sector will survive only in name.
In the budget, a budget of Rs 20 crore has been released for the CM Powerloom Industry Development Scheme.
- Also read these news related to UP budget
Budget of 7 thousand crores for Kisan Pension Yojana, 24 thousand crores for agriculture development and irrigation
Presenting the budget for 2023-24 in the UP Assembly, Finance Minister Suresh Khanna first talked about the farmers. He said, “188.40 lakh hectares of land is cultivable in Uttar Pradesh. Because of this, the state is number one in the country in milk, sugarcane and sugar production and supply of ethanol. Read full news here
Shero-shayari, CM Yogi-Akhilesh were seen smiling in the budget speech of Finance Minister Suresh Khanna
Finance Minister Suresh Khanna’s poetic style was visible while presenting the budget. During his 1 hour 38 minute budget speech, he kept his words through poetry seven times. During this, Suresh Khanna’s style gave his colleagues a chance to laugh. Read full news here
Budget for Mayawati cumin in camel’s mouth; Shivpal’s sarcasm – Salute to the jugglery of figures
Yogi Sarkar 2.0 has presented its second budget. At the same time, the opposition parties have criticized this budget of the government. SP chief Akhilesh Yadav and Shivpal targeted fiercely. On the other hand, BSP chief Mayawati described the budget as cumin in the camel’s mouth. Read full news here