Budget 2024: UP govt unveils ‘Largest Ever’ Rs 7.36 lakh crore budget

UP government on Monday unveiled the largest ever budget of the state which includes Rs 2,057 crore for Ganga expressway also.

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Courtesy: ANI

Just few days after finance minister Nirmala Sitharaman presented the Interim Budget, Uttar Pradesh Finance Minister Suresh Khanna Monday presented the annual budget for the fiscal year 2024-25 in the state Assembly, unveiling a significant financial plan amounting to Rs 7.36 lakh crore, which includes new projects worth Rs 24,000 crore.

This budget outlines the state’s financial priorities, allocations, and strategic initiatives for the upcoming fiscal year.

The Budget session of the state assembly that began on February 2, just few days after Ram Mandir inauguration in Ayodhya. The budget session began with Governor Anandiben Patel addressing both the Houses, Legislative Assembly and Legislative Council, together in the Assembly pavilion on the first day.

While presenting the budget for the upcoming financial year, UP Finance Minister Suresh Khanna said, “An MoU for investment of Rs 4,000 crores 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. Pharma Conclave was successfully organized in Hyderabad by the state government, as a result of which big pharma companies are showing interest in investing in Uttar Pradesh.”

Khanna while presenting the budget in Vidhan Sabha, also added that the state has lifted the ban on giving new private tube well connections in the dark zone, which will directly benefit about one lakh farmers. 

He also highlighted the achievements of the government, in the year 2023-2024, about 37 lakh Kisan Credit Cards were distributed till October, 2023. Under the Prime Minister Crop Insurance Scheme, a compensation of Rs 831 crore was paid to about 10 lakh insured farmers for 2022-2023 till October, 2023. Under the Pradhan Mantri Kisan Samman Nidhi Yojana, an amount of about Rs 63,000 crore was transferred to the accounts of 2 crore 62 lakh farmers through DBT by December 2023. A record sugarcane price payment of more than Rs 2.33 lakh crores was made to about 48 lakh sugarcane farmers by the present government from the year 2017 to January 29, 2024. This sugarcane price payment is Rs 20,274 crore more than the combined sugarcane price payment of Rs 2.1 lakh crores in the previous 22 years..."

Apart from this, the finance minister also announced the investment of Rs 2,057 crore for Ganga Expressway project, Rs 2,500 crore for preparation of Maha Kumbh mela in the year 2025, Rs 100 crore for overall development of Ayodhya, Rs 1,150 crore for construction work of International Airport in Jewar, Gautam Budh Nagar. Apart from this, Rs 200 crore for PM mega integrated Textile and Apparel Park in Lucknow-Hardoi is also in the pipeline.

Here are some of the key highlights:

The budget is the largest in Uttar Pradesh's history, with a total size of ₹7,36,437.71 crore. 
This represents a 12.4% increase compared to the previous year's budget.

Key focus areas of budget

Infrastructure: The budget allocates significant funds for infrastructure development, including roads, bridges, and transportation.

Agriculture: The government aims to improve the lives of farmers and increase agricultural productivity by allocating funds for irrigation, seeds, and other initiatives.

Health and education: The budget focuses on increasing access to quality healthcare and education for all citizens.

Tourism: The government plans to boost tourism by developing religious and cultural sites, such as Ayodhya.

Job creation: The budget includes several schemes aimed at creating jobs and promoting entrepreneurship.