UP Budget 2024: FM unveils historic ₹7.36 lakh crore budget

The Uttar Pradesh government presented its eighth consecutive budget, highlighting its commitment to inclusive development. Finance Minister Suresh Khanna announced a record budget of ₹7.36 lakh crore for the financial year 2024-25, marking a substantial increase from the previous year's budget of ₹6.90 lakh crore. The budget encompasses new schemes worth ₹24,863.57 crore, showcasing the state's dedication to progress.

The fiscal deficit is maintained at 3.46% of the state GDP. Out of the total expenditure, ₹5,32,655.33 crore is allocated for the revenue account and ₹2,03,782.38 crore for the capital account.

Significant investments are directed towards the aviation sector, with ₹1,100 crore earmarked for the development of airstrips across the state. Notable progress has been made in airports' development, including the 'Maharishi Valmiki International Airport Ayodhya Dham' in Ayodhya.

The budget allocates ₹2,000 crore for the Ganga Expressway project, ₹346 crore for Agra Metro, and ₹400 crore for the Atal Industrial Infrastructure Mission. The state aims for a 22,000 MW target for solar power.

A significant allocation of ₹952 crore is made for the Health Infra Mission, along with Rs 400 crore for a new medical college in Varanasi. ₹7,350 crore is allocated for the National Rural Health Mission.

The budget prioritises farmers with ₹1,100 crore for free water supply and an expectation of 5.1% agricultural growth in FY25. Initiatives under various schemes, such as the Kisan Credit Cards and the Prime Minister Kisan Samman Nidhi Yojana, are highlighted.

The FM emphasises the state's economic improvement, bringing six crore people above the poverty line. UP has jumped from the 14th position to the 2nd spot in the ease of doing business ranking. The state is progressing rapidly in terms of industrial growth and exports.

The destitute women's pension is increased from ₹ 500 to ₹1,000 per month, benefitting 30 lakh women. Sugarcane MSP is raised, and substantial funds are disbursed to sugarcane farmers.

FM Khanna begins the budget speech with lines from the Ramayan, symbolising cultural significance and values.

The Finance Minister emphasises that Uttar Pradesh is no longer a Bimaru state, showcasing improved governance, reduced crime, and robust economic progress. The budget is positioned as a catalyst for the state's continued development and prosperity.