Budget to establish UP as largest economy in country, says Yogi - Hindustan Times
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Budget to establish UP as largest economy in country, says Yogi

Feb 22, 2023 07:55 PM IST

BJP made 130 promises to the people before 2022 assembly polls, of which 110 have been fulfilled in the budget. The state government has allocated ₹64,000 crore to fulfil these promises, says CM

LUCKNOW Chief minister Yogi Adityanath on Wednesday said that UP’s Budget for 2023-24 would lay the foundation of an ‘atmanirbhar’ (self-reliant) Uttar Pradesh and pave way for fast, inclusive and all-round development of the state.

Uttar Pradesh chief minister Yogi Adityanath along with state finance minister Suresh Khanna arrives to present the budget for the financial year 2023-24 during the Budget Session of the Uttar Pradesh Assembly, in Lucknow on Wednesday. (ANI Photo)
Uttar Pradesh chief minister Yogi Adityanath along with state finance minister Suresh Khanna arrives to present the budget for the financial year 2023-24 during the Budget Session of the Uttar Pradesh Assembly, in Lucknow on Wednesday. (ANI Photo)

“This budget will establish UP as the largest economy in the country. It will also work to realise Prime Minister Narendra Modi’s vision to make UP a one-trillion-dollar economy within five years,” he said addressing a press conference after the budget was presented in the legislative assembly.

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“Our first budget in 2017 was dedicated to farmers, to infrastructure and industrial development in 2018, women empowerment in 2019, youth power, employment and infrastructure development in 2020, self-reliance and empowerment in 2021 and ‘antyoday to atmanirbhar’ (self-reliance) in 2022,” he said.

The budget fulfils the government’s mantra of ‘sabka saath, sabka vikas, sabka vishwas and sabka prayas’, he emphasised.

The UP government tabled 6.90-lakh-crore budget for 2023-24 compared to 3.40-lakh-crore budget in 2016-17. In the last six years, the budget allocations had doubled, per capita income of people increased and the gross domestic product (GDP) of the state also doubled. The budget shows the commitment of the state government to strengthen the economy, said the CM.

“The BJP made 130 promises to the people before 2022 assembly polls, of which 110 have been fulfilled in the budget. The state government has allocated 64,000 crore to fulfil these promises,” he said.

The CM said the UP government had taken several steps, including check on tax theft and financial discipline, to strengthen the economy. “Tax collections have increased from 86,000 crore in 2016-17 to 2.20 lakh crore. GST and excise collections have also increased while the tax collection system has been made transparent,” added Adityanath.

He emphasised that the state government did not impose fresh taxes on the people while VAT on petrol and diesel had been reduced. “People got relief from inflation. UP has turned into a revenue surplus state, which paved way for development of world class infrastructure,” said Adityanath.

The fiscal deficit had been brought down from 3.50% to 3.24 %. A large portion of funds in the 2023-24 budget were to be borne by the state government with its own resources while only 16% of the funds were from loans. Besides, unemployment rate had been brought down from 18% in 2016-17 to 4% now, he said.

The state had five expressways and it plans to construct Jhansi Link Expressway and Chitrakoot Link Expressway to connect the Bundelkhand Expressway. Four industrial clusters will be developed on the Purvanchal Expressway, two on the Bundelkhand Expressway and Gorakhpur Link Expressway, he added.

The CM said a green corridor will be developed in Bundelkhand region and Ayodhya will be developed as a model solar city. “To improve air connectivity, the state government plans to construct 21 airports. Science city will be developed in Agra and Varanasi,” he said.

Adityanath also said that funds had been allocated for the promotion of start-ups and opening of five new universities in the state. Gautam Buddha Agriculture University will be opened in Kushinagar while three state universities will come up in Mirzapur, Devipatan and Moradabad divisions besides a pharmaceutical institute.

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