Adityanath 2.0 presents maiden UP Annual Budget 2022-23 of Rs 6.15 trn

Big ticket Budget aligns with UP's trillion dollar economy vision

The Yogi Adityanath government 2.0 on Thursday presented its maiden Uttar Pradesh Annual Budget 2022-23 of more than Rs 6.15 trillion.

The Annual Budget for the current financial year is 10 per cent higher than the last Full Budget (2021-22) of the Adityanath dispensation 1.0 (2017-22) at about Rs 5.5 trillion presented in February 2021.

Considering the state government is targeting to propel UP as India’s first $ trillion economy by 2027, the current year’s Budget has made liberal allocations for different socioeconomic sectors, including industry, infrastructure, agriculture and allied industries, MSME, tourism etc.

The Annual Budget 2022-23 has allocated more than Rs 50,000 crore for new schemes while providing support for the flagship ongoing projects in the social and other sectors, especially employment and self-employment oriented.

“The focus of the state is firmly on the education of youth, employment, empowerment of women and farmers, law & order as well as all-round growth of the state,” UP Chief Minister Adityanath said addressing the media after state Finance Minister Suresh Khanna tabled the Annual Budget in the state assembly.

“The UP Budget has been prepared keeping in mind the aspirations of 250 million people of the state. The Budget has provided Rs 58,883 crore for 97 of the total 130 schemes announced in the Lok Kalyan Sankalp Patra (ruling BJP’s 2022 pre-poll manifesto),” he underlined.

The CM maintained that UP's annual Budget would cater to all the sections of society for a composite development template.

Meanwhile, the UP Budget has proposed free irrigation facility to farmers through over 34,000 government tube-wells and 252 minor canals as well as Rs 1,000 crore under Mukhya Mantri Laghu Sinchai Yojana to address irrigation related issues of the state.  

Further, the Budget proposes accidental insurance of Rs 650 crore for farmers under Mukhya Mantri Krishak Durghatana Kalyan Yojana.

The Adityanath regime targets to distribute 20 million smartphones and tablets in the next five years, including 1.2 million in the current financial year 2022-23.

The state has proposed Rs 897 crore funding for the multi-modal connectivity projects under PM Gati Shakti Yojana, and Rs 694 crore for the 594 km 6-lane Ganga Expressway from Meerut to Prayagraj (Allahabad).

According to the annual financial statement, the total receipts in 2022-23 are estimated at Rs 5.9 trillion, including revenue receipts of Rs. 4.99 trillion and capital receipts of Rs 91,739 crore.

The share of tax revenue in revenue receipts is more than Rs 3.67 trillion. It includes the state's own tax revenue of Rs 2.2 trillion and UP’s share in central taxes of Rs 1.46 trillion.