Uttar Pradesh Unveils Robust FY25 Budget: Finance Minister Suresh Khanna Allocates Rs 7.36 Trillion

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.

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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.

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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.