UP Budget touches all dimensions from ease of doing business in the state to ease of living
By Rahees Singh
The term ‘Budget’ in economics is nothing but a statement of income and expenditure of the government, which shows sectoral allocations and expenses. However, in true sense, a Budget is a key document that shows the fiscal situation, the future goals of the government, vision of leadership and the progress of the state. On February 22, the BJP government led by CM Yogi Adityanath tabled its 5th Budget.
CM Adityanath has worked in the direction of giving Uttar Pradesh an identity as the best business destination, a skilled manpower, fastest growing economy within the country, and a safe, prosperous and self-reliant socio-economic unit both within the country and the world.
Looking at the main content of Budgets from 2017-18 to 2021-22, it’s clear how the state government has worked in the areas of micro and macro economy, the reason why UP has become the second largest state of India in terms of GSDP and has succeeded in increasing per capita income almost two times in the last five years.
The government has dedicated Budget 2021-22 to empowerment and self-reliance of various sections of the state through holistic and inclusive development. In it, four pillars are envisaged to operationalise the concept of ‘self-reliant Uttar Pradesh’. These are development of infrastructure, public health and well-being, reinvigorating human capital and socio-cultural development, farming and allied activities.
Usually, infrastructure is placed at the top, but in my view human capital is the most important component today. In the Budget, the government has shown sensitivity towards the plight of farmers, women, youth, entrepreneurs and workers. Since the lack of enterprise-based skills in the educated youth has often been a hurdle in the attainment of employment, skill development programmes, career counselling, Mukhyamantri Amrit Yojana, etc, have been given preference in the Budget.
Most of the human capital of the state is employed in farming. From this point of view, agriculture is the most important sector. In this Budget, keeping the farmers, agriculture and rural sector at the centre, the focus has been on prosperity of agriculture and rural economy, without which there cannot be inclusive, sustainable and all-round development of the state.
The Budget reiterates the resolve to double farmers’ income by 2022. It has been decided to implement self-sufficient farmer integrated development plan from FY 2021-22 to meet the gaps related to infrastructure for better use of various schemes to double the income of farmers by 2022. In this regard, along with providing crop loans to farmers, a budgetary provision has been made to provide free water and grants for installing solar-powered pumps.
A major focus of this Budget has been on initiatives for farmers’ welfare and making agriculture more scientific. It has also aimed at giving cultural revival and cultural economy a new direction. This Budget is like a roadmap for all-round development with security and dignity to women and making human capital efficient and prosperous, connecting it with great opportunities in the country and the world. In a nutshell, it touches all dimensions from ease of doing business in the state to ease of living, and is compatible with all expectations of ‘self-reliant Uttar Pradesh’.
The author is an expert in economic and external affairs, and serves as an advisor to CM Yogi Adityanath