Uttar Pradesh Unveils Robust FY25 Budget: Finance Minister Suresh Khanna Allocates Rs 7.36 Trillion
- Posted on February 5, 2024
- Government and Policy
- By TSW NEWS DESK
- 118 Views
Uttar Pradesh Finance Minister Suresh Khanna has presented the FY25 budget, amounting to Rs 7.36 lakh crore, marking an increase from the previous fiscal's Rs 6.90 lakh crore. The budget allocates significant funds to infrastructure development, welfare schemes, and cultural events.
Uttar
Pradesh's budget for the fiscal year 2024-25, presented by Finance
Minister Suresh Kumar Khanna, outlines a comprehensive plan with a total
outlay of Rs 7.36 lakh crore. This marks a considerable increase from the
previous fiscal year's budget of Rs 6.90 lakh crore.
Khanna's
budget emphasizes the state's commitment to inclusive growth with the
allocation of Rs 24,863.57 crore for new schemes. In comparison, the last
fiscal year saw the implementation of schemes worth Rs 32,721 crore. The focus
on enhancing existing schemes and introducing new initiatives demonstrates the
government's dedication to welfare programs.
For
the upcoming fiscal year, the state government estimates total receipts at Rs
7,21,233.82 crore. This includes revenue receipts of Rs 6,06,802.40 crore and
capital receipts of Rs 1,14,531.42 crore. Tax collection is projected at Rs
4,88,902.84 crore, comprising 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
estimated total expenditure is 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. The budget projects a deficit of Rs 15,103.89 crore after deducting
the total expenditure from the consolidated fund receipts.
Khanna
highlighted key initiatives, including the Destitute Women Pension Scheme's
increase to Rs 1,000 per month for eligible beneficiaries. The Women Farmer
Empowerment Project aims to provide technical support through the formation of
200 producer groups in FY 2024-2025.
Furthermore, Rs 2,400 crore has been proposed for electricity at concessional rates to private tube wells, reflecting a 25 percent increase from the current fiscal year's budget. The PM Kusum Yojana sees an allocation of Rs 449.45 crore, more than double the previous year, showcasing the government's commitment to agricultural growth.
Infrastructure
projects include Rs 4,000 crore for free tablet and smartphone distribution, Rs
2,057 crore for the Ganga Motorway project, Rs 2,500 crore for Maha Kumbh Mela
2025 preparations, and Rs 100 crore for Ayodhya's overall development.
Additionally, Rs 150 crore is set aside for Maharishi Valmiki International
Airport expansion, Rs 1,150 crore for Jewar International Airport, Rs 150 crore
for NIFT in Varanasi, and Rs 200 crore for the PM Mega Integrated Textile and
Apparel Park in Lucknow-Hardoi.
In connectivity, Rs 1,750 crore is provisioned for the development of roads leading to religious places. The budget underscores Uttar Pradesh's commitment to holistic development, emphasizing infrastructure, welfare, and cultural heritage.