Yogi govt presents UP's biggest Budget

At Rs 6.90 lakh crore, UP Budget ’23-2’4 focuses on infra, youth, jobs, women and farmers

Published: 23rd February 2023 08:10 AM  |   Last Updated: 23rd February 2023 08:10 AM   |  A+A-

Uttar Pradesh Finance Minister Suresh Khanna presents the State Budget during the Budget Session of the State Assembly, in Lucknow, on Feb. 22, 2023. (Photo | ANI)

Express News Service

LUCKNOW:  Presenting the biggest ever budget, worth over Rs 6.90 lakh crore, in the history of Uttar Pradesh for 2023-24 and the second of Yogi government 2.0 on Wednesday, State Finance Minister Suresh Khanna claimed that it would give a robust push to infra growth, welfare schemes and job creation besides taking adequate care of youth, women, farmers and deprived classes of the society. 

“With a focus on infrastructure development for youth empowerment by creating more and more job opportunities, the UP budget 2023-24 is also for strengthening farmers and giving honour to women,” said the UP Finance Minister.

While unveiling the budget, Khanna announced a 16.8 per cent growth in state GDP and a downslide in the employment rate to 4.2 per cent against over 14 per cent in 2016-17. He claimed that the state economy painted an encouraging picture even amid the ‘global recession’ following the pandemic.

“The state’s contribution to the country’s GDP is more than 8 per cent. In the year 2021- 22, a growth of 16.8 per cent has been registered in the Gross State Domestic Product, which was higher than the country’s growth rate. The rate of growth in GSDP for the financial year 2023-2024 has been pegged at 19 per cent. In the era of global recession, the growth rate of the state’s economy is encouraging. Before 2017, the unemployment rate was 14.4 per cent, today it has come down to about 4.2 per cent,” the minister said.

With the announcement of new schemes worth Rs 32,721 crore in UP budget-2023-24, the initial portion of Khanna’s speech was replete with couplets and poetry throughout. It carried references to the recently held Global Investors Summit which witnessed the signing of over 19,000 MoUs worth about Rs 33.50 lakh crore intended for investment.

The 2023 UP budget assumes significance as it is an attempt by the Yogi government to woo different sections of society ahead of the upcoming Lok Sabha elections slated for April-May 2024. Calling the state budget -2023-24 a consolidated effort to fulfil the aspirations of the people of Uttar Pradesh, UP CM Yogi Adityanath claimed that it would strengthen the foundation of ‘Atmanirbhar Pradesh’ (self-reliant state) on the lines of ‘Atmanirbhar Bharat’ (self-reliant India). The CM claimed that 110 of the 130 promises made by the BJP in its manifesto ahead of the 2022 assembly elections were included in the state budget.

Meanwhile, the budget failed to impress the opposition. While Samajwadi Party president and Leader of Opposition in UP Assembly called it a directionless budget, Bahujan Samaj Party (BSP) chief and former UP CM Mayawati summed it up as only a ‘bunch of promises’. Akhilesh Yadav on Wednesday said that it had neither offered a solution to the existing problems nor had put forward a strategy to chart the course for the future especially when the BJP got a duration of six years to work.

UP Budget At A Glance

Size: Rs 6,90,242.43 cr
Total expenditure (estimated): Rs 6,90,242.43 cr
Revenue Saving: Rs 68,511.65 cr
Fiscal deficit: Rs 84,883.16 cr

For Youth:

  • Rs 3,600cr for tablets and smartphones to eligible students of Swami Vivekananda Youth Empowerment Scheme
  • Rs 100 cr seed funds for start-up incubators
  • Rs 60 cr for UP Information Technology and Startups Policy
  • Rs 20 cr for Agriculture Accelerator Fund

For Women:

  • Rs 1,050 cr under Chief Minister Kanya Sumangala Yojana
  • Rs 4,032 cr for destitute widows
  • Rs 600 cr for Samuhik Vivah scheme
  • Rs 150 cr grant for daughters of poor belonging to OBCs

Other Highlights:

  • Rs 21,159 cr for construction of roads, bridges
  • Rs 100 cr for Varanasi, Gorakhpur metro rail
  • Rs 1,306 cr for Delhi-Ghaziabad-Meerut Corridor Regional Rapid Transit System
  • Rs 235 cr for new Jhansi and Chitrakoot Link Expressway
  • Rs 550 cr for Defence Corridor & Bundelkhand Expressway
  • Rs 200 cr for Industrial Corridor in Gorakhpur
  • Rs 2,500 cr for preparation of Mahakumbh Mela, 2025


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