Uttar Pradesh Chief Minister Yogi Adityanath said on Monday that the state budget for 2024-25 was dedicated to Lord Ram and was for “lokmangal” (public welfare).
“Ram Lalla epitomises the well-being of people; he is present right from the inception to the conclusion of the budget. The new UP is all about celebration, industry and hope and the budget is the document for comprehensive and balanced development of UP,” the chief minister said.
“Today’s UP budget is dedicated to Lord Ram and is for ‘lokmangal’. The highlight of this budget is that it restricts the budget deficit to norms under Fiscal Responsibility and Budget Management (FRBM) Act limit of 3.5 per cent to 3.46 per cent. This budget includes fiscal discipline along with the government’s vision of safety, development and good governance,” he said.
“This is the state’s largest budget of over Rs 7.36 lakh crore. Today UP’s economy is the second biggest in the country. We adopted reforms and checked tax evasion to achieve this. UP is a revenue-surplus state now. This budget is also the ‘Pink budget’, with a focus on ‘Matri Shakti’ and women-empowerment schemes in the state,” he said.
Addressing a press conference following the presentation of the UP budget 2024-25 in the state assembly, the chief minister said that Lord Shri Ram epitomises the well-being of people, asserting his presence right from the inception till the conclusion of the budget.
Chief Minister M Yogi articulated that the new budget offers a perfect roadmap for comprehensive and balanced development of the state, aligning with the aspirations of its populace.
Congratulating UP Finance Minister Suresh Khanna for presenting the budget for the fifth time, the chief minister remarked that this budget of Rs 7,36,437.71 crore was the biggest to date, 6.7 per cent up compared to the budget of 2023-24, and was dedicated to faith, Antyodaya and economy.
The increase in the size of the state budget is based on the commitment of the double-engine government to expand the economy of the state as well as the prime minister’s vision of Sabka Saath, Sabka Vishwas, Sabka Vikas and Sabka Prayas, he added.
Highlighting key aspects of the budget, the chief minister underscored a groundbreaking provision for capital expenditure amounting to Rs 2,03,782.38 crore, describing it as a testament to the government’s commitment to bolstering infrastructure.
Emphasising the symbiotic relationship between infrastructure investment, job creation and economic fortification, he envisioned a significant leap in the state’s gross domestic product (GDP), projecting an increase from Rs 12 lakh crore in 2016-17 to an impressive Rs 25 lakh crore by 2024-25.
In a notable achievement, the chief minister highlighted the government’s success in doubling the per capita income, propelling Uttar Pradesh to the position of the second-largest economy in the country. This transformative progress, he explained, was a result of the government’s resolute stance against tax evasion and rigorous measures undertaken across various departments to staunchly eliminate revenue leakage.
Consequently, Uttar Pradesh has achieved the status of a revenue surplus state, with manifold increases in revenue over the past seven years, he pointed out.
According to the chief minister, what sets this accomplishment apart is the government’s commitment to fiscal responsibility, refraining from imposing additional taxes or burdening the common man and at the same time implementing welfare schemes at an extensive scale.
He added that the government has also been successful in controlling the unemployment rate in the last seven years. “In 2016-17, the unemployment rate in the state was 19.2 per cent, which has reduced to 2.4 per cent today. New employment opportunities and a new environment for industrial investment have been created. Micro, small and medium enterprise (MSME) units have been revived. Also, schemes like One District One Product and Vishwakarma Shram Samman have given UP a new identity in the country,” he remarked.
The chief minister pointed out that new projects worth Rs 24,863.57 crore have been included in the budget. There is also a proposal to provide interest-free loan of Rs 5 lakh to the youth under the Chief Minister Yuva Udyami Vikas Abhiyan Yojana. Apart from this, provision has been made for formation of Employment Promotion Fund, in which arrangements for training, internship and apprenticeship have been made, he added.
The proposals also include establishment of National Institute of Fashion Technology in Varanasi and two mega government industrial training institutes and upgradation of 69 ITIs.
The chief minister highlighted the proactive steps taken to advance the establishment of the Bundelkhand Industrial Development Authority in the state. Notably, after a span of 46 years, a new city is slated to emerge within the state, strategically positioned between Kanpur and Jhansi.
The budget also allocates resources for the enhancement of spiritual tourism in Uttar Pradesh, focusing on developing infrastructure along the Nath corridor theme in key cities such as Ayodhya, Kashi, Mathura, Naimish, Vindhyachal, Devipatan and Bareilly. Additionally, provisions have been made for the creation of a Kumbh Museum in Prayagraj. The financial plan extends support for cultural enrichment through the establishment of a music college in Hariharpur, Azamgarh, and the inception of the International Ramayana and Vedic Research Centre in Ayodhya.
Addressing the agricultural sector, Chief Minister Yogi announced the Chief Minister Farm Security Scheme for farmers, emphasising the importance of agriculture as a primary sector. The proposal includes the introduction of a state agricultural scheme across the state. Furthermore, financial provisions have been made to provide electricity to private tube wells of farmers, contributing to the overall improvement of the agricultural landscape.
In a forward-looking initiative to safeguard agriculture from the impacts of global warming, the budget outlines plans to install automatic rain gauges in every gram panchayat, the chief minister stated.
The chief minister described the budget as very important also because it has appeared in the Amrit Kaal of the naming of the state. The chief minister mentioned the important works done by the government in the context of green budget. “Green tagging has started for 17 departments of the state. UP will be the first state to do green tagging. Our budget process has become completely digital. Our budget is also a think budget. This is a budget based on the welfare of mothers, sisters and daughters. This budget is going to fulfill the overall concepts of the state,” he stated.
The chief minister said that this was the eighth budget of his government and had its own unique theme like the previous ones. While the budget of 2017-18 was dedicated to Annadata farmers, the budget of 2018-19 was dedicated to infrastructure and industrial development, of 2019-20 to women empowerment, of 2020-21 to youth, of 2021-22 to empowerment through self-reliance, of 2022-23 to self-reliance through Antyodaya, of 2023-24 to accelerated and all-inclusive development and of 2024-25 to Lord Shri Ram with larger public welfare in mind.
