UP Budget Gives A Major Boost To Infra Development In the State
The impact of the investment boost that Uttar Pradesh got with the recent Global Investors Summit was clearly visible in the UP Annual Budget 2023-24, which was presented in the UP assembly on Wednesday. Infrastructure and industrial development got a major boost in the budget, with several new projects being proposed.
The budget saw a major chunk of the state’s finances being doled out for infrastructure and industrial development. The budget gave Rs 235 crore for the initial phase of the new projects of Jhansi Link Expressway and Chitrakoot Link Expressway. Similarly, for the Defence Corridor Project and the Bundelkhand Expressway, Rs 550 crore have been proposed.
The UP government has allocated Rs 200 crore for the industrial corridor in Gorakhpur on both sides of Gorakhpur Link Expressway. Apart from this, the government has decided to set up industrial manufacturing complexes at six places along the Purvanchal and Bundelkhand Expressways. Out of this, four complexes will be built along the Purvanchal Expressway and two complexes along the Bundelkhand Expressway.
The pharma sector and state’s biggest project, ODOP, too got a boost in the budget. A provision of Rs 25 crore has been made in the UP government's budget for the establishment and development of Pharma Parks in the state. a provision of Rs 200 crore is proposed in the budget for the financial year 2023-24 for the establishment of Unity Mall to encourage the marketing of ODOP and handicraft products,
With industrial development getting a major push, the UP budget also allocated a lion’s share for infrastructure development. The budget saw an allocation of Rs 21159 crore for the construction of roads and bridges. Rs 6209 crore is proposed for its maintenance and Rs 1525 crore has been allocated for roads in rural areas.
During his budget speech, the state finance minister Suresh Khanna pointed out that during the tenure of the Yogi government, 21696 km long rural roads have been constructed and 18407 km of roads have been widened and strengthened. Under the Mukhyamantri Samagra Gram Vikas Yojana, roads were constructed in 181 revenue villages.
In the budget, a provision of Rs 3473 crore is made for the bridges and roads for agricultural marketing facilities. The Finance Minister informed that an arrangement of Rs 1525 crore has been made for roads in rural areas. In addition, Rs 1700 crore for the construction of railway over bridges and Rs 1850 crore is allocated for other bridges.
Khanna further said that Rs 2588 crore has been allocated for the widening and strengthening of state highways and for new works. Further, about Rs 2538 crore has been allocated for the widening and strengthening of major district roads and Rs 1000 crore for the development of roads having religious or spiritual significance.
The budget also sees Rs 3000 crore being proposed for maintenance of roads and Rs 2500 crore for construction from the State Road Fund. Rs 50 crore is proposed for the widening and strengthening, alongwith construction work of 4 lane roads for industrial and logistic parks. Rs 250 crore is proposed for widening and strengthening/renovation/reconstruction works of roads for agricultural marketing facilities in sugar mill area.
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