UP Budget Highlights: Finance Minister Suresh Khanna presents Rs 7.36 lakh crore budget for FY25
UP Budget 2024 Highlights: Finance Minister Suresh Kumar Khanna outlined three new agriculture-related schemes with a total provision of Rs 460 crore to boost the sector.
Uttar Pradesh Finance Minister Suresh Kumar Khanna has presented the budget for the financial year 2024-25 in the state assembly with a total outlay of Rs 7.36 lakh crore, an increase from the current fiscal's budget of Rs 6.90 lakh crore.
The budget for the next fiscal includes new schemes worth Rs 24,863.57 crore. In the previous fiscal year, the state's budget was Rs 6.90 lakh crore, with new schemes worth Rs 32,721 crore.
For the upcoming fiscal year, the state government's budget estimates total receipts at Rs 7,21,233.82 crore, comprising revenue receipts of Rs 6,06,802.40 crore and capital receipts of Rs 1,14,531.42 crore. The share of tax collection in revenue receipts is projected at Rs 4,88,902.84 crore, including the state's own tax revenue of Rs 2,70,086 crore and its share in the central tax pool at Rs 2,18,816.84 crore.
The total expenditure is estimated at Rs 7,36,437.71 crore, with Rs 5,32,655.33 crore allocated for the revenue account and Rs 2,03,782.38 crore for the capital account. After deducting the total expenditure from the receipts of the consolidated fund, a deficit of Rs 15,103.89 crore is projected in the budget.
Khanna highlighted that the Destitute Women Pension Scheme has increased the amount payable to eligible beneficiaries from Rs 500 per month to Rs 1,000 per month. The scheme has benefited 31,28,000 destitute women until the third quarter of 2023-2024. Additionally, under the Women Farmer Empowerment Project, the target is to provide technical support by forming 200 producer groups in the financial year 2024-2025.
Additionally, an outlay of Rs 2,400 crore has been proposed for providing electricity at concessional rates to private tube wells of farmers, representing a 25 percent increase compared to the current fiscal year's budget.
The implementation of the PM Kusum Yojana has been allocated Rs 449.45 crore, more than double the allocation for the ongoing fiscal year. These measures reflect the government's commitment to fostering agricultural growth and ensuring the well-being of farmers in the state.
Free distribution of tablets and smartphones
A provision of Rs 4,000 crore has been allocated for the free distribution of tablets and smartphones to the youth.
Ganga Motorway Project
Rs 2,057 crore has been earmarked for the Ganga Motorway project, emphasising infrastructure development.
Maha Kumbh Mela 2025
An allocation of Rs 2,500 crore has been made for the preparation of the Maha Kumbh Mela in the year 2025, reflecting the importance of the cultural and religious event.
Ayodhya Development
Rs 100 crore has been set aside for the overall development of Ayodhya, with an additional Rs 150 crore for the expansion of Maharishi Valmiki International Airport in Ayodhya.
International Airport in Jewar
A budget of Rs 1,150 crore has been allocated for the construction of the International Airport in Jewar, Gautam Budh Nagar.
NIFT in Varanasi
Rs 150 crore has been provisioned for the establishment of the National Institute of Fashion Technology (NIFT) in Varanasi.
Textile and Apparel Park
Rs 200 crore has been allocated for the PM Mega Integrated Textile and Apparel Park in Lucknow-Hardoi.
Roads to Religious Places
A provision of Rs 1,750 crore has been made for the development of roads leading to religious places, emphasising connectivity.
(With PTI inputs)
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