Yogi’s master stroke towards one trillion economy

Lucknow: The Uttar Pradesh Government led by Chief Minister Yogi Adityanath on Thursday announced a budget of Rs. 6,15, 518.97 crore for the financial year 2022-23, which is almost double the size of Rs 3,46,935 crore budget presented by Akhilesh Yadav Government for the financial year 2016-17.

It is also significantly higher than Yogi Government’s budget of Rs 5,50,270.78 crore for financial year 2021-22 which included new schemes worth Rs 27,598.40 crore. It is being seen as a master stroke towards realising the dream of achieving one trillion economy for Uttar Pradesh.

The Yogi Government’s budget includes new schemes worth Rs 39,181.10 crore, which is three times higher than Akhilesh Yadav Government’s proposal of Rs 13,842 crore for new development schemes. The Yogi Government has also announced budgetary provision worth crores of rupees to strengthen the police and maintain law and order in the state.

The Yogi Government has not only made a record payment of Rs 1, 72, 745 crore to sugarcane farmers until May 16, 2022, which is Rs. 77,530 crore more than the five years’ of accumulated payment of Rs. 95,215 crore during Akhilesh Yadav’s Government, but has also proposed Rs 1000 crore for payment to the remaining sugarcane farmers.

The budget also proposes free irrigation facility to farmers through 34,307 government tube-wells and 252 minor branch canals as well as Rs 1000 crore under Mukhya Mantri Laghu Sinchai Yojana to address irrigation related issues of the state.

Furthermore, the budget proposes accidental insurance of Rs 650 crore for farmers under Mukhya Mantri Krishak Durghatana Kalyan Yojana against Akhilesh Yadav’s Rs 2.50 crore budget for accidental insurance scheme for farmers.

The Yogi Government aims to distribute 2 crore smartphones and tablets in the next five years , including 12 lakh in the current financial year itself against one crore laptops distributed by Akhilesh Yadav’s Samjajwadi Party Government in five years.

The Yogi Government has also proposed Rs. 897 crore proposed for multi-modal connectivity projects under PM Gati Shakti Yojana and Rs 694. 34 crore for the 594 km long 6-lane Ganga Expressway from Meerut to Prayagraj whereas the Akhilesh Yadav Government proposed Rs 1,500 crore for the Lucknow-Azamgarh-Ballia Samajwadi Purvanchal Expressway, which was finally constructed by the Yogi Government.

The total receipts in the current financial year are estimated at Rs. 5,90,951.71 crore, including revenue receipts of Rs. 4,99,212.71 crore and capital receipts of Rs. 91,739 crore. The share of tax revenue in revenue receipts is Rs. 3,67,153.76 crore. This includes its own tax revenue of Rs. 2,20,655 crore and the state’s share in central taxes of Rs. 1,46,498.76 crore. The fiscal deficit is estimated of Rs. 81,177.97 crore which is 3.96 per cent of the estimated Gross State Domestic Product.

The budget presented in the assembly by Finance Minister Suresh Khanna not only focuses on the education of youth and their employment, but also empowerment of women and farmers as well as all-round growth of the state and law and order.