UP Budget Highlights: Finance Minister Suresh Khanna presents Rs 7.36 lakh crore budget for FY25

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.