An https://exam.pscnotes.com/inclusive-Growth“>Inclusive Growth to self-reliantUttar Pradesh’ being its theme,finance minister Suresh Khannapresented the state’s biggest-ever budget with a special focus on the welfare of farmers, youths, and Women, and Infrastructure development.
Chief minister Yogi Adityanath described the budget as a manifestation of the spirit of self-reliant Uttar Pradesh.
At Rs 6.9 lakh crore, it is almost 40,000 crore bigger than the previous budget. Khanna said that the state’s GSDP grew by 16.8 per cent in 2021-22, which was much higher than the national Average.
In a major initiative to reach out to farmers a year before the next Lok Sabha Elections, the government announced a 100 per cent waiver on power bills of private tubewell consumers. Earlier, such consumers were getting a 50 per cent waiver. Besides, to spruce up its power distribution system, the Yogi government has made a provision of Rs 6,500 crore.
The budget has earmarked Rs 32,721 crore for new schemes across sectors. In terms of the emphasis infrastructure, medical and Health, Education and tourism, especially religious and cultural tourism, are the major thrust areas, apart from farmers, women and youth welfare.
The Fiscal Deficit is estimated to be around Rs 84,883 crore which is 3.48 per cent of the estimated GSDP. According to economics professor Yashveer Tyagi, the UPs economy is in much better condition as compared to several other states and the fiscal deficit is at a satisfactory level.