Industrial dev gets lion’s share in U.P’s ₹12,209.93 cr supplementary budget

The Uttar Pradesh government on Tuesday presented the first supplementary budget of ₹12,209. 93 crore for 2024-25 that includes an allocation of ₹319.95 crore for new schemes.

The size of the supplementary budget is nearly 1.66% of the state’s annual budget (of ₹7.36 lakh crore) presented (on February 5) ahead of the 2024 Lok Sabha elections, minister for finance Suresh Khanna said while presenting the supplementary budget in the state legislative assembly in the presence of chief minister Yogi Adityanath.

The supplementary budget is presented when funds for the ongoing schemes are insufficient and to earmark funds for items not planned in the annual budget.

The allocations in the supplementary budget include ₹7981.99 crore for capital expenditure and ₹4227.94 crore under the revenue expenditure head.

Khanna said a large chunk of ₹7500.18 crore has been earmarked for industrial development, including ₹6071.99 crore for the Ganga Expressway being constructed to connect Meerut with Prayagraj.

The chief minister has time and again asked the Uttar Pradesh Expressways Industrial Development Authority to complete the Ganga Expressway before the Prayagraj Mahakumbh 2025. Other allocations include funds for a new industrial policy, data centre policy and industrial investment promotion scheme.

Khanna said ₹2000 crore has been allocated to the energy sector while ₹1000 crore has been earmarked for buying new buses for the UPSRTC fleet ahead of Prayagraj Mahakumbh 2025. The Uttar Pradesh State Road Transport Corporation (UPSRTC) proposes to have 50,000 operational buses by 2030. Data reveals that currently, almost 50% of the existing buses are nearing their expiration dates. It also suggests that buses are not being added to the fleet as quickly as they are being discarded. As of now, the UPSRTC has 12,300 buses in its fleet, with 500 buses added in June this year.

A sum of ₹100 crore has been earmarked for rural stadiums and open-air gyms, ₹200 crore for training in skill development programme. For various works of secondary education department a sum of ₹284 crore has been earmarked.

A sum of ₹600 crore has been allocated for AMRUT scheme of urban development department. ₹50 crore has been earmarked for creating facilities for tourists in Ayodhya, Mathura and Varanasi.

The government, in a statement under the Uttar Pradesh Fiscal Responsibilities and Budget Management Act 2004, said it would cut down non-productive expenditure and fund the amount by achieving the tax revenue targets.