The Yogi Adityanath government in Uttar Pradesh will present its annual budget — largest ever — for 2023-2024 in the state Assembly on Wednesday.
State Finance Minister Suresh Khanna said that the focus is likely to be on infrastructure development, health sector and education.
According to top sources, the budget size is likely to increase by 8-10 per cent and is expected to be around Rs 7 lakh crore. This would be over Rs 50,000 crore more as compared to previous budget size which stood around Rs 6.48 lakh crore, including Rs 33,000 crore raised through supplementary demands.
This will be the largest budget to be tabled by the Uttar Pradesh government.
The budget is likely to give further push to infrastructure development, IT, health and education sectors. It would also have much to cheer about for 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 ground.
The budget is also likely to focus on Uttar Pradesh government’s consultant Deloitte’s first report on taking the state to one trillion-dollar economy target.
The current fiscal size of the economy is estimated to be around Rs 20.48 lakh crore.
Going by the current value of rupee against dollar, for making Uttar Pradesh a one trillion-dollar economy, the size of its economy should be nearly more than Rs 80 lakh crore.