UP Assembly Budget Session 2024: Uttar Pradesh Finance Minister Suresh Kumar Khanna on Monday presented the budget for the financial year 2024-25 in the state assembly with an outlay of Rs 7.36 lakh crore, higher than the current fiscal’s budget of Rs 6.90 lakh crore.
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The total outlay of Rs 7,36,437.71 crore for the next fiscal includes new schemes worth Rs 24,863.57 crore, the state finance minister said while presenting the budget.
The state’s budget for 2023-24 was Rs 6.90 lakh crore that included new schemes worth Rs 32,721 crore.
For the next fiscal, the state government’s budget has estimated the total receipts at Rs 7,21,233.82 crore, which includes a revenue receipts estimated at Rs 6,06,802.40 crore and capital receipts at Rs 1,14,531.42 crore.
The share of tax collection in revenue receipts is estimated at Rs 4,88,902.84 crore, which includes state’s own tax revenue of Rs 2,70,086 crore and its share in central tax pool at Rs 2,18,816.84 crore.
The total expenditure is estimated at Rs 7,36,437.71 crore.
Out of the total expenditure, Rs 5,32,655.33 crore has been allocated for the revenue account and Rs 2,03,782.38 crore for capital account.
After deducting the total expenditure from the receipts of the consolidated fund, a deficit of Rs 15,103.89 crore is estimated in the budget.x
Yogi Government Budget 2024
The Uttar Pradesh government’s annual budget for the next financial year has set a target of 5.1 per cent growth rate for the agriculture sector in the state.
A provision of Rs 460 crore has been made for three new agriculture-related schemes in the budget.
Khanna said that the target is to achieve the growth rate of 5.1 per cent for the agriculture sector.
He announced three schemes to push the agriculture sector.
One of the scheme, State Agricultural Development Scheme, will have a provision of Rs 200 crore.
Another Rs 200 crore has been allocated for the World Bank-assisted UP Agris Scheme.
The third scheme for the installation of automatic weather station-automatic rain gauge in blocks and panchayats has been allocated Rs 60 crore, the state finance minister said.
He further said that the Chief Minister Khet Suraksha yojna (Farm Security Scheme) is also being started with a provision of Rs 50 crore.
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Besides, an outlay of Rs 2,400 crore has been proposed for providing electricity at concessional rates to private tube wells of farmers. The amount is 25 per cent more than the budget for the same provided in the current financial year.
Khanna said that Rs 449.45 crore has been proposed for the implementation of PM Kusum Yojana, which is more than double than the allocation for the ongoing fiscal.
Destitute Women Pension Scheme
Khanna said that under the Destitute Women Pension Scheme, the amount payable to the eligible beneficiaries has been increased from Rs 500 per month to Rs 1,000 per month.
As many as 31,28,000 destitute women have benefited under the scheme till the third quarter of 2023-2024.
Under the Women Farmer Empowerment Project, the target is to provide technical support by forming 200 producer groups in the financial year 2024-2025, the minister said.
Aero City in Lucknow
Khanna also announced that the state government is planning Aero City in Lucknow on the lines of Delhi, which will be developed in about 1500 acres. It will have facilities like a 7-star hotel, park, world-class convention centres and others.
Speaking on the unemployment rate in the state, the finance minister said that UP government has so far been successful in bringing about 6 crore people out of poverty. “Today the unemployment rate in the state is only 2 percent,” he said.
He also added that semiconductor policy has been approved by the state government. This policy will pave the way for the establishment and development of semi-conductor units in the state, which will bring large-scale investment in the state from within the country and abroad.
Uttar Pradesh has become the fourth state in the country to bring such a policy.
Moreover, speaking on the consecration ceremony of Ram Lalla in Ayodhya on January 22, the state finance minister highlighted tourism boost in the state.
He said, “Our social and cultural sector has got a lot of encouragement due to the construction of the grand temple of Lord Ram in Ayodhya. Ayodhya has become a big tourist centre of the world. There has been a huge increase in the number of tourists coming here from India and the world which has greatly improved our economic condition…”
He also added that an MoU for investment of Rs 4,000 crore has been signed by the state government with Hero Future Energies, under which the organization will invest in renewable energy and clean technology projects in the state.
Khanna had earlier told reporters the budget will be ‘Sarv Samaveshi’ (all-inclusive) and ‘Sarv Sparshi’ (taking care of all) to ensure all-round development.
“The Yogiji’s (Chief Minister Yogi Adityanath) budget will take UP forward to achieve its target of becoming a 1-trillion dollar economy,” he had said.