UP Budget 2023: Yogi Government To Present Its ‘Largest Budget’ In State Assembly Today

UP Budget 2023: The Yogi Adaityanath led-Uttar Pradesh government is all set to present its annual budget for the financial year 2023-24 in the state Assembly today i.e. on Wednesday.

UP Budget 2023: ‘Largest Budget’

According to the officials, this budget will be the largest budget to be tabled by the Uttar Pradesh government.

Giving a glimpse of the state budget, the UP finance minister, Suresh Khanna said that the focus is likely to be on infrastructure development, the health sector and education.

The budget size is likely to increase by around 8-10 per cent and it is expected to be around Rs 7 lakh crore, said a government source. The upcoming budget would be over Rs 50,000 crore more as compared to the previous budget size which stood around Rs 6.48 lakh crore, including Rs 33,000 crore raised through supplementary demands.

Key highlights of the State Budget

The budget is likely to give further push to infrastructure development, IT, health and education sectors. Moreover, this year’s budget will also work for the betterment of women, youth and the poor.

With the Global Investors Summit (GIS) receiving investment pledges worth Rs 33.5 lakh crore, the budget would have to focus on developing infrastructure in districts, other than the NCR region, in a bid to get investment proposals in these areas converted to reality on the ground.

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Trillion-Dollar economy target

The UP Budget 2023 is also set to focus on the state government’s consultant Deloitte’s first report on taking the state to a one trillion-dollar economy target. According to the reports, the present fiscal size of the economy is estimated to be around Rs 20.48 lakh crore.

Going by the current value of the rupee against the dollar, for making Uttar Pradesh one trillion-dollar economy, the size of its economy should be nearly more than Rs 80 lakh crore.

‘Double-engine government’

Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya said the state budget will exceed the expectations of people. The budget will be presented on Wednesday.

Speaking to the media, the deputy CM said, “There is a double-engine government of the BJP with Prime Minister Narendra Modi ji at the Centre, and Yogi Adityanath ji in the state. The UP budget will be better than the expectation of the people. And the way the opposition parties were left puzzled after the Union Budget, the same thing will happen after the state budget is presented.”

Moreover, he said that the opposition termed the Union budget an election budget as they do not know about the “farsightedness of Prime Minister Narendra Modi.”

“If he decides on a target, he does not sit quietly until he achieves it,” he added.