Union Budget 2023: UP targets ₹1.83 lakh crore share in central taxes as CM Yogi points out its benefits

A day after the Union Budget 2023, Chief Minister Yogi Adityanath listed out its benefits to the people of Uttar Pradesh. He said the budget would lay the foundation of a developed economy for the next 25-30 years.

Talking to the media in Lucknow on Thursday, Yogi said UP’s share in the central taxes has been proposed to be ₹1.83 lakh-crore, as compared to ₹1.46 lakh-crore in the previous budget.

Advantages of a bigger Budget

It would help in building a new UP. The budget would promote ease of living and extension of free foodgrain scheme for the poor for another year and give relief to 15 crore households in UP. Similarly, the increase in the budgetary allocation under the PM Awas Yojna by ₹79,000 crore would help the poor to get a house of their own.

Start-up fund for agriculture

The CM said setting up a start-up fund for the agriculture sector would also benefit the state, as the rural youth are coming forward to start their own business. The announcement to make India a hub for millets will also help UP, which produces 19% of India’s total production. The rise in the target of agri lo­ans to ₹20 lakh-cro­re would st­re­ngt­h­e­n the agriculture sector.

He said an announcement has been made in the budget to provide ₹9,000 crore credit guarantee to the MSME sector through which they would get collateral free loans of up to ₹2 lakh-crore. It would strengthen the UP's domestic economy and increase employment opportunities. The state has maximum 96 lakh MSME units, which would benefit.