Uttar Pradesh Chief Minister Yogi Adityanath addressed the media post state budget 2023 presentation in the Vidhan Sabha, on Wednesday. The state government presented the largest ever budget for the most populous state of the country.
“Today we have presented the first budget of ‘Amrit Kaal’. It will help in making the state self-reliant on the lines of self-reliant India. This budget will serve as the foundation to make the economy of UP a $1 trillion economy in the next 5 years,” said CM Adityanath.
UP Budget 2023: Important takeaways
- In his speech, state Finance minister Suresh Khanna pegged the total budget size at Rs 6.90 lakh crore. In 2022-23, UP’s budget estimate was at Rs 6.15 lakh crore.
- The contribution of Uttar Pradesh to India’s GDP is more than 8 per cent. In 2021-2022, a growth of 16.8 per cent was registered in the state’s Gross State Domestic Product, higher than the national growth rate last fiscal, FM Suresh Khanna said.
- In the era of global recession, the growth rate of UP is encouraging. Before 2017, the unemployment rate of the state was 14.4 per cent. Presently, it has come down to about 4.2 per cent, the Finance minister said.
- For the financial year 2023-2024, the increase in the Gross State Domestic Product (GSDP) has been estimated at 19 per cent.
- In the year 2022-2023, under the Pradhan Mantri Kisan Samman Nidhi Yojana, more than Rs 51,639.68 crore has been transferred directly to the bank accounts of farmers through Direct Benefit Transfer (DBT).
- Global Investors Summit – More than 19,000 Memoranda of Understanding (MoUs) worth about Rs 33.50 lakh crore were signed during the summit: Finance minister Suresh Khanna
- Among major budgetary allocations, the state allocated Rs 25,350 crore for Jal Jeevan Mission, hoping that all households will be covered with tap drinking water.
- For Kanpur Metro, for the year 2023-24, a further Rs 585 crore budgetary allocation has been made. For the Agra Metro project, Rs 465 crore has also been made available in the budget for 2023.
In Lucknow, before tabling budget for the state, Uttar Pradesh Finance Minister Suresh Kumar Khanna offered prayers at a temple. Since 2017, it is this government’s seventh overall budget.