Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath announced the state budget for 2024-25, revealing a 6.7 percent increase compared to previous budgets. This marks the first time that over two lakh crore has been allocated for capital expenditure. Speaking at a press conference, CM Yogi stated that the budget amounts to Rs 7,36,437 crore and reflects the achievements of the Double Engine Government, which is dedicated to PM Modi’s vision of inclusive development.
Highlighting the significance of capital expenditure, CM Yogi emphasized that investing in infrastructure not only generates employment but also strengthens the economy. He projected that Uttar Pradesh’s GDP, which was approximately 12 lakh crores in 2016-17, will reach 25 lakh crores in 2024-25. The Chief Minister also proudly announced that his government has successfully doubled the average person’s income, propelling Uttar Pradesh to become the country’s second-largest economy. This achievement, he claimed, was made possible by curbing corruption.
Another notable aspect of the budget is its adherence to the fiscal deficit limit set by the Government of India and RBI, which is 3.5. CM Yogi emphasized that while his government has focused on development, security, and good governance, it has also prioritized maintaining fiscal balance with utmost honesty.
Addressing unemployment concerns, CM Yogi highlighted the significant reduction in the unemployment rate from over 19.2 percent in 2016-17 to around 2.4 percent presently. To further tackle unemployment, the government will launch the “Mukhyemantri Uddhyami Vikas Yojana,” providing interest-free loans up to Rs 5 lakh to the youth of Uttar Pradesh in both urban and rural areas.
Recognizing the importance of agriculture, the budget introduces the “Mukhyemantri Khet Suraksha Yojana” scheme to support farmers. It also allocates funds for the establishment of automatic water stations, automatic rain gauges in every gram panchayat, Organic Culture Lab, Tissue Lab, and Agri-Tourism Center, aiming to mitigate the impact of global warming on agriculture.
The Chief Minister further revealed the establishment of the Bundelkhand Industrial Development Authority, a significant move after 46 years. The budget also provides for the establishment of the Medical Research Technology Institute at IIT Kanpur and includes provisions for Ayodhya, Kashi, Mathura, Vrindavan, Vindhyachal, and the upcoming Prayagraj Kumbh.
CM Yogi’s budget announcement showcases the government’s commitment to inclusive growth, economic development, job creation, and agricultural reforms, all while maintaining fiscal responsibility.
The Chief Minister of Uttar Pradesh, Yogi Adityanath, has announced a 6.7% increase in the state’s budget for the first time. This move aims to boost the development and welfare initiatives in Uttar Pradesh. The budgetary allocation will focus on sectors like healthcare, education, infrastructure, and agriculture. The increased budget reflects the government’s commitment to uplifting the state’s economy and improving the standard of living for its people. This decision is expected to have a positive impact on the overall growth and progress of Uttar Pradesh.
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