Suresh Kumar Khanna, the finance minister of Uttar Pradesh, delivered a record-breaking budget of Rs 7.36 lakh crore for the fiscal year 2024–25 to the state parliament on Monday. The budget prioritises the development of youth, agriculture, and infrastructure improvements to sacred sites.
The state finance minister stated during the budget presentation that new initiatives of Rs 24,863.57 crore are included in the overall expenditure of Rs 7,36,437.71 crore for the next fiscal year. The state allocated Rs 6.90 lakh crore for 2023–24, which includes new projects of Rs 32,721 crore.
The state government has projected total revenues of Rs 7,21,233.82 crore for the next fiscal year. This amount comprises predicted revenue receipts of Rs 6,06,802.40 crore and capital receipts of Rs 1,14,531.42 crore.
The state’s portion of the central tax pool, which is Rs 2,18,816.84 crore, and its own tax income, which is Rs 2,70,086 crore, make up the anticipated Rs 4,88,902.84 crore share of tax collection in revenue collections.
The expected total cost comes to Rs 7,36,437.71 crore.
Rs 2,03,782.38 crore has been set aside for the capital account and Rs 5,32,655.33 crore for the revenue account out of the total expenditure. A deficit of Rs 15,103.89 crore is predicted in the budget after subtracting all expenses from the consolidated fund’s income.
According to Khanna, the qualifying recipients’ monthly payment under the Destitute Women Pension Scheme would now be Rs 1,000 instead of Rs 500.
Up to 31,28,000 impoverished women have benefitted from the project as of the third quarter of 2023–2024. The minister stated that the goal of the Women Farmer Empowerment Project is to develop 200 producer groups in the fiscal year 2024–2025 in order to give technical support.
PRIORITIES FOR YOUTH, HOLY PLACES
The budget includes Rs 4,000 crore for the free gifting of smartphones and tablets to young people.
The Ganga Motorway project has been given a budget of Rs 2,057 crore. The Maha Kumbh Mela preparations in 2025 will cost Rs 2,500 crore. Ayodhya’s overall development will receive Rs 100 crore, Maharishi Valmiki International Airport expansion will cost Rs 150 crore, international airport construction in Jewar, Gautam Budh Nagar, will cost Rs 1,150 crore, NIFT establishment in Varanasi will cost Rs 150 crore, and PM Mega Integrated Textile and Apparel Park in Lucknow-Hardoi will receive a budget.
