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-Rajesh Mishra
Lucknow: The annual budget of the Uttar Pradesh government for the financial year 2023-24 (UP Budget 2023) was presented on Wednesday, equipped with new schemes for the development of infrastructure facilities, development of basic facilities for the establishment of industries, farmers along with small and medium entrepreneurs. . The size of the budget of Uttar Pradesh Government for the financial year 2023-24 is Rs 6.90 lakh crore. Last year a budget of Rs 6.15 lakh crore was presented, which increased to Rs 6.49 lakh crore after bringing a supplementary budget of Rs 33769.54 crore.
In the financial year 2023-24, the target of revenue collection from State Goods and Services Tax (SGST) and Value Added Tax (VAT) has been set at Rs 1.50 lakh crore. A target of Rs 58,000 crore has been set for revenue collection from excise duty and Rs 34,560 crore from stamp and registration. The target of revenue collection from vehicle tax has been fixed at Rs 12,672 crore.
New schemes worth Rs 32,721 crore included
Presenting the budget in the assembly on Wednesday, Finance Minister Suresh Khanna said that the size of the budget is Rs 6,90,242 crore. New schemes worth Rs 32,721 crore have been included in the budget. Total receipts are estimated at Rs 6,83,292 crore. These include revenue receipts of Rs 5,70,865 crore and capital receipts of Rs 1,12,427 crore. The share of taxes in revenue receipts is Rs 44,5871 crore, of which state tax is Rs 2,62,634 crore and the state’s share of central taxes is Rs 1,83,237 crore. The total expenditure in the budget is estimated at Rs 6,90,242 crore, of which capital expenditure is estimated at Rs 1.87 lakh. The budget for the financial year 2023-24 estimates a fiscal deficit of Rs 84,883 crore, which is 3.48 per cent of the Gross State Domestic Product (GSDP).
Presenting the budget of the new Uttar Pradesh (financial year 2023-2024), Finance Minister Mr. @SureshKKhanna Yes…
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GSDP growth rate estimated at 19 percent
During the budget speech, the Finance Minister said that in the year 2021-22, a growth of 16.8 per cent was registered in the State’s Gross State Domestic Product (GSDP), which was higher than the country’s growth rate. The rate of growth in GSDP for the financial year 2023-2024 has been estimated at 19 percent. He said that before the year 2017, the unemployment rate of the state was 14.4 percent, today it has come down to about 4.2 percent.
Allocation of funds in the budget for the development of Defense Corridor
Along with the construction of expressways, funds have been allocated in the budget for the establishment of industrial corridors on both sides, and for the development of defense corridors. The Finance Minister informed that industrial clusters are being established around Purvanchal and Bundelkhand Expressway. In the budget of the financial year 2023-2024, a provision of Rs 235 crore has been proposed for the initial phase of the new projects of Jhansi Link Expressway and Chitrakoot Link Expressway. An arrangement of Rs 550 crore has been made for the Defense Corridor project along the Bundelkhand Expressway. On the other hand, an arrangement of Rs 200 crore has been made for the development of an industrial corridor in Gorakhpur on both sides of the Gorakhpur Link Expressway.
Finance Minister presenting the budget (financial year 2023-2024) in the Legislative Assembly, @SureshKKhanna Yes https://t.co/y0jMnFlw8y
— Government of UP (@UPGovt) February 22, 2023
Rs 25 crore provision for establishment of Pharma Parks
Funds have been allocated for various sectors in the budget for the financial year 2023-24, with special focus on setting up enterprises after the successful Global Investors Summit. In the budget, an allocation of Rs 25 crore was made for the establishment of Pharma Parks in the state, and Rs 200 crore for Unity Mall for One District One Product (ODOP) scheme and promotion of marketing of handicraft products. An arrangement of Rs 50 crore has been made for the widening and strengthening of four-lane roads for the Industrial Logistics Park.
Allocation of funds to speed up metro projects
Funds have been allocated to speed up the ongoing metro projects in various cities of Uttar Pradesh. In the financial year 2023-24, Rs 585 crore has been given for the Kanpur Metro Rail and Rs 465 crore for the Agra Metro Rail Project. An arrangement of Rs 1,306 crore has been made for the Delhi-Ghaziabad-Meerut Corridor Regional Rapid Transit System project. An arrangement of Rs 100 crore has been made for the metro rail project in Varanasi, Gorakhpur and other cities.
Provision of Rs 1,525 crore for roads in rural areas
In this budget, an arrangement of Rs 6,209 crore has been made for the repair of roads and bridges and Rs 3,473 crore for new works. A provision of Rs 1,525 crore has been made for roads in rural areas. There is a provision of Rs 1,850 crore for the construction of new bridges and Rs 2,588 crore for the widening of state highways. Rs 2,538 crore has been given for the widening of other major and district roads, while a provision of Rs 1000 crore has been made for the construction and strengthening of roads to religious places.
Provision of Rs 25,350 crore for Jal Jeevan Mission
In the field of irrigation, a provision of Rs.502 crore has been made for new government tube wells, Rs.100 crore for reconstruction of failed tube wells, Rs.192 crore for Saryu Canal Project and Rs.375 crore for Madhya Ganga Irrigation Project. The state government has made a provision of Rs 25,350 crore in the budget for Jal Jeevan Mission, an important project to provide drinking water to all.
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