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Uttar Pradesh's Finance Minister, Suresh Kumar Khanna, presented the state's budget for the financial year 2024-25 at the State Assembly on Monday. With an outlay of Rs 7.36 lakh crore, the budget marks a significant increase from the previous fiscal year's allocation of Rs 6.90 lakh crore.

 

In the inaugural address, Minister Khanna drew inspiration from the timeless verses of the Ramcharitra Manas, emphasizing the importance of adhering to the principles of Ramrajya.

 

He commended Chief Minister Yogi Adityanath for his commitment to building the Ram temple in Ayodhya, citing it as a symbol of the state's dedication to upholding these cherished values.

 

Echoing the ideals of Ramrajya, Khanna stressed the importance of building a society rooted in faith, justice, and zero crime. He outlined key principles and moral values inspired by the teachings of Ram, highlighting the government's commitment to governance guided by ethical standards.

 

“Notable achievements include a significant reduction in crime rates, enhanced connectivity, and Uttar Pradesh's remarkable rise in the ease of doing business rankings, projecting it’s position from the 14th to the 2nd position nationwide”, the minister stated.

 

“The state's economic prospects received a significant boost with the infusion of a remarkable investment of Rs 40 lakh crore during the Global Infrastructure Summit of 2023. This massive investment is expected to generate employment opportunities for over 1.10 crore individuals”, he added.

 

Khanna said, “Uttar Pradesh has emerged as a frontrunner in the Micro, Small, and Medium Enterprises (MSME) sector, with 96 lakh units established, signifying a robust entrepreneurial ecosystem. The successful eradication of poverty for more than 6 crore people brings to the fore government's commitment to inclusive development”

 

“Looking ahead, Uttar Pradesh will solidify its position as a global manufacturing hub with plans to establish semiconductor manufacturing units. This strategic initiative aligns with the state's vision of showcasing its industrial expertise on the global stage, with Uttar Pradesh now being recognized as the 4^th state in India” , the minister asserted.

 

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 added.

Out of the total budgeted 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.

 

The finance minister announced an increase in the amount payable to eligible beneficiaries under the Destitute Women Pension Scheme from Rs 500 per month to Rs 1,00 0 per month.

 

A total of 31,28,000 destitute women have benefited from the scheme until the third quarter of 2023-24.

 

The women farmer empowerment project seeks to offer technical assistance by establishing 200 producer groups in the financial year 2024-25, as per Suresh Kumar’s directives.

 

Comparatively, the state’s budget for 2023-24 was Rs 6.90 lakh crore, which included the allocation of Rs 32,721 crore for new schemes.