This is the second budget under the leadership of Chief Minister Yogi Adityanath and holds huge significance due to the upcoming Lok Sabha elections scheduled for April-May 2024, as Uttar Pradesh sends 80 members to the lower house of Parliament, the highest among all states and Union Territories.
The state government has allocated a budget of ₹7,248 crore for the old age/farmer pension scheme and Rs. 42 crore for the Leprosy Pension Scheme. Additionally, to provide free quality education to the children of laborers, one residential school has been established in each division of the state.
The Uttar Pradesh Tourism Policy-2022 aims to create an investment of Rs. 10 lakh crore and the creation of 20 thousand jobs in the next five years. The state has also set aside a budget provision of Rs. 2,803 crore for flood control and drainage for the financial year 2023-2024. To boost the pharmaceutical sector, the state government has decided to establish the State Institute of Pharmaceutical Research and Development, for which a budget of Rs 20 crore has been allocated.
The government has also proposed a budget of Rs 1,700 crore for the construction of railway overhead bridges and Rs 1,850 crore for other bridges. The Kanpur Metro Rail Project has been allocated a budget of Rs 585 crore, while the Uttar Pradesh Information Technology and Startups Policy will receive a provision of Rs. 60 crore. In a bid to encourage marketing of ODOP and handicraft products in the state, the government has proposed a budget of Rs. 200 crore for the establishment of Unity Mall. A provision of Rs. 1,000 crore is proposed for the development of charitable routes.
The government also announced the establishment of industrial manufacturing complexes at six locations on the banks of Purvanchal Expressway and Bundelkhand Expressway. Out of these, four complexes will be built on the banks of Purvanchal Expressway and two on the banks of Bundelkhand Expressway. Additionally, a budget of Rs. 200 crore has been proposed for the development of an industrial corridor in Gorakhpur on both sides of the Gorakhpur Link Expressway.
The state government has also set aside a budget of Rs. 3,600 crore to provide tablets and smartphones to students. Under the Pradhan Mantri Kisan Samman Nidhi Yojana, more than Rs. 51,639.68 Crores has been transferred directly to the bank accounts of farmers through DBT in the year 2022-2023.
The Global Investors Summit-2023 was attended by over 25,000 investors. More than 19,000 MoUs worth about Rs 33.5 Lakh Crore were signed in this summit. The Finance Minister expects the state's growth rate to be 19% for 2023-24.
Uttar Pradesh ranks first in the country in housing construction, construction of toilets, the establishment of micro, small, and medium-scale industries under PM Awas Yojana rural/urban, and transfer of funds to beneficiaries through DBT through the PFMS portal.
