The budget session of Uttar Pradesh assembly would begin from February 20. On the second day of the session annual budget for financial year 2023-24 is to be tabled with a size that might surpass ₹7 lakh crore.
Apart from allocations for various welfare schemes, funds would be arranged for the implementation of industrial projects that would come in the Global Investors Summit (GIS) scheduled on Feb 10 to 12.
The annual budget of UP will also reflect the preparations for the coming parliament elections of 2024. The Finance Minister of UP Suresh Khanna would table the budget for the seventh time in a row. He said that it would be an inclusive budget taking care of every section of the society. The budget will have special focus on youths, farmers, women and infrastructural development.
Total investments likely to cross ₹25 lakh crore
Allocations would be made to meet the requirements for the implementation of the investment proposals coming under GIS. Looking at the proposals received before the GIS, it is expected that total investments might cross ₹25 lakh crore which is more than three times of the size of UP’s budget.
It may be mentioned that the Yogi Government had tabled an annual budget of ₹6.15 lakh crore last year. Later on it had also tabled a supplementary budget of ₹33,769.54 crore. According to the officials of the finance department the total size of budget in the financial year 2022-23 was ₹6.49 core, hence this year it is likely to cross ₹7 lakh crore.
New demands
Before the preparation of the budget the state government had asked all the departments to submit their proposals before November 30 last. As per the proposals received, the finance department has prepared the annual budget for 2023-24 keeping in mind the schedule of new demands and the funds required.
Free scooties for female college students
In the budget there could be allocation for free distribution of scooties to the college going girls under the Rani Laxmi Bai scheme, funds for providing apprenticeship to degree holder students, free electricity to farmers for irrigation and distribution of free laptop or smartphone to two crore youths.
It may be mentioned that the Yogi Government has recently announced to impart year-long training to 7.5 lakh unemployed educated youths and give them a monthly stipend of ₹8000-9000.
This scheme is to be implemented with the central assistance where the state government has to contribute ₹2,460 crore as its share. The budget for the financial year 2023-24 would have provision of funds for it.
