Uttar Pradesh Budget 2024-25: A Vision for Growth and Development!
Uttar Pradesh Budget 2024-25: A Vision for Growth and Development!
Blog Article
On February 5, 2024, Uttar Pradesh Finance Minister Suresh Kumar Khanna presented a landmark budget for the financial year 2024-25, totaling ₹7.36 lakh crore. This budget marks the largest in the state's history, reflecting a robust commitment to infrastructure development, agricultural growth, and social welfare.
Infrastructure Investments: A significant portion of the budget is dedicated to enhancing the state's infrastructure. Notably, ₹2,057 crore has been allocated for the ambitious Ganga Expressway project, which aims to improve connectivity and boost economic activities. Additionally, ₹500 crore is set aside for the Link Expressway, while ₹346 crore will support the Agra Metro project. The Atal Industrial Infrastructure Mission will receive ₹400 crore to foster industrial growth across the state.
Support for Agriculture: Agriculture remains a focal point in this budget, with an allocation of ₹1,100 crore for providing free water to farmers. The government aims for a 5.1% growth in agriculture during FY25. Notably, the ban on new private tube well connections in dark zones has been lifted, directly benefiting around 100,000 farmers. Furthermore, under the Prime Minister Kisan Samman Nidhi Yojana, ₹63,000 crore has been transferred to 2.62 crore farmers through direct benefit transfers.
Health and Welfare Initiatives: The health sector also sees substantial investment with nearly ₹1,000 crore allocated for health infrastructure improvements. The budget aims to enhance medical facilities and ensure better healthcare access for citizens. Additionally, the pension for destitute women has been increased from ₹500 to ₹1,000 per month, benefiting approximately 30 lakh women.
Economic Growth and Fiscal Management: The Gross State Domestic Product (GSDP) is projected to grow by 5.8% over the previous year, reflecting positive economic momentum. The budget outlines a revenue surplus of 3% of GSDP and targets a fiscal deficit of 3.46%, ensuring fiscal discipline while promoting growth.
Conclusion: The Uttar Pradesh Budget 2024-25 signifies a transformative approach towards development, focusing on infrastructure enhancement, agricultural support, and social welfare initiatives. With ambitious projects and strategic allocations in place, Uttar Pradesh is poised for significant progress in the coming year, aiming to uplift its citizens and stimulate economic growth across the state.- Written By Hexahome