UP Budget Expected To Touch Rs 7 Lakh Crore Mark, To Focus On Jobs, Agriculture, MSMEs
The Uttar Pradesh budget session began on Monday with the address of the governor Anandi Ben Patel. Day 1 was adjourned following a protest by the Samajwadi Party MLAs and the opposition is expected to make this budget session a heated one. The Bharatiya Janata Party is expected to keep the momentum going on its development agenda even with the budget, which the state chief minister Yogi Adityanath has said will be focusing on the people’s expectations and overall development.
The BJP is currently riding high on the wave of the recently concluded UP Global Investors Summit, where against the target of Rs 10 lakh crore, the state managed to get an investment of about Rs 33 lakh crore. On Wednesday, as the state finance minister Suresh Khanna would be tabling the budget, the impact created by the GIS will certainly have its reflection on the state budget.
According to sources in the UP government, the budget is expected to be around Rs 7 lakh crore for the financial year 2023-24. Since the budget comes ahead of the general elections scheduled for 2024, it is expected to focus on agriculture reforms, give a major boost to the msme sector, strengthen the law and order and the health care infrastructure and also, creation of jobs which has been on BJP’s target for long. The GIS became an effective tool for this although the opposition has been cornering the state government over the investments.
It may be recalled here that the Chief Minister Yogi Adityanath is often heard stating that under his government, the state’s economy has grown more than three times in size. In 2016, under the leadership of Akhilesh Yadav, the Samajwadi Party led UP government had presented a budget of Rs 2 lakh crore.
With the state focussing on becoming a one trillion dollar economy by 2027, the UP budget 2023-24 will certainly be in focus for the next two weeks till the session is on.
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