Yogi govt unveils ₹7.36 lakh cr Budget for FY25

The Uttar Pradesh government led by Chief Minister Yogi Adityanath unveiled its budget worth ₹7.36 lakh crore for the fiscal year 2024-25. Though the total state budget has increased significantly, the allocations for new schemes has been reduced in FY25 as compared to FY24.

Finance Minister Suresh Kumar Khanna presented the budget for FY 2024-25 in the state assembly on Monday, revealing an outlay worth ₹7.36 lakh crore. This marks a significant increase from the 2023-24 budget of ₹6.90 lakh crore, which included new schemes valued at ₹32,721 crore.

Outlay & New Schemes

The total outlay for the upcoming fiscal is pegged at ₹7,36,437.71 crore, encompassing new schemes amounting to ₹24,863.57 crore, as stated by the state finance minister during the budget presentation. 

Revenue & Capital Receipts

For the fiscal year ahead, the state government anticipates total receipts amounting to ₹7,21,233.82 crore. This comprises revenue receipts estimated at ₹6,06,802.40 crore and capital receipts at ₹1,14,531.42 crore. Notably, the share of tax collection in revenue receipts is projected at ₹4,88,902.84 crore, including the state's own tax revenue of ₹2,70,086 crore and its share in the central tax at ₹2,18,816.84 crore.

Expenditure Breakdown

The budget allocates a total expenditure of ₹7,36,437.71 crore, with ₹5,32,655.33 crore earmarked for the revenue account and ₹2,03,782.38 crore for the capital account. After accounting for total expenditure, a deficit of ₹15,103.89 crore is estimated in the budget.

Social Welfare Initiatives

Khanna highlights key social welfare initiatives in the budget. Under the Destitute Women Pension Scheme, the monthly amount payable to eligible beneficiaries has been doubled from ₹500 to ₹1,000. A total of 31,28,000 destitute women have benefitted from the scheme as of the third quarter of 2023-2024. 

Additionally, the Women Farmer Empowerment Project aims to provide technical support by forming 200 producer groups in the financial year 2024-2025.

Under the Uttar Pradesh Rani Laxmibai Mahila and Bal Samman Kosh, there is a provision to offer financial compensation ranging from ₹1 lakh to ₹10 lakh to women and girls who have been subjected to heinous crimes.

Under the ‘One District One Product’ financing scheme, 1,92,193 jobs were created through 13,597 beneficiaries, the government says in a statement.