Gearing up for the first ground breaking ceremony after the successful global investor’s summit, the Yogi Government is mulling a supplementary budget in the monsoon session of Uttar Pradesh assembly. This would be the first supplementary budget of the current fiscal where allocations for industrial development are to be made.
Before the general elections of 2024, the UP Government would arrange funds for completing ongoing mega projects and fulfilling promises made in the manifesto released during the 2022 assembly polls. In the supplementary budget, the government may allocate funds for the International Trade Show for MSME scheduled to be held at Noida in September this year. The trade show is being organized by the MSME department of the UP Government.
International Trade Show for MSME
According to the officials of the finance department, preparations are going for the supplementary budget to be tabled in the monsoon session. Various departments have been asked to submit their demand for funds which would be incorporated after scrutiny. In January the grand Ram Temple at Ayodhya would be inaugurated and before this, several big projects are to be completed there. The supplementary budget would have financial provisions for the projects of Ayodhya also, informed officials. Funds for the roads, health projects and new medical colleges coming up in various districts, would be provided in the supplementary budget. Besides, the state government may provide funds for the preparation of Maha Kumbh scheduled at Prayagraj in the year 2025.
Developing industrial clusters in the state
The Industrial Development department has sought funds for developing clusters for industries on both the sides of expressways which will be provided in the supplementary budget.
It may be mentioned that in February this year, the Yogi Govt had tabled an annual budget of ₹6.90 lakh crore for the financial year 2023-24. The officials of the finance department have been expecting the size of the supplementary budget to be around ₹18,000 to ₹20,000 crores.
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