Uttar Pradesh FM Suresh Kumar Khanna presents record budget of Rs 7.46 lakh crore for FY 2024-25

Uttar Pradesh Finance Minister Suresh Kumar Khanna presented a record budget for the financial year 2024-25 in the state assembly with an outlay of Rs 7.36 lakh crore, which is higher than the current fiscal year's budget of Rs 6.90 lakh crore. The total outlay for the next fiscal includes new schemes worth Rs 24,863.57 crore, according to the state finance minister.

The budget for the previous fiscal year, 2023-24, was Rs 6.90 lakh crore and included new schemes worth Rs 32,721 crore. The state government's budget for the next fiscal year estimates total receipts at Rs 7,21,233.82 crore, with revenue receipts estimated at Rs 6,06,802.40 crore and capital receipts at Rs 1,14,531.42 crore. The share of tax collection in revenue receipts is estimated at Rs 4,88,902.84 crore, including the state's own tax revenue of Rs 2,70,086 crore and its share in the central tax pool at Rs 2,18,816.84 crore. The total expenditure is estimated at Rs 7,36,437.71 crore, with Rs 5,32,655.33 crore allocated for the revenue account and Rs 2,03,782.38 crore for the capital account.

The budget estimates a deficit of Rs 15,103.89 crore after deducting the total expenditure from the receipts of the consolidated fund. Khanna also announced an increase in the amount payable to eligible beneficiaries under the Destitute Women Pension Scheme, from Rs 500 per month to Rs 1,000 per month. So far, 31,28,000 destitute women have benefited from the scheme till the third quarter of 2023-2024. The minister also highlighted the Women Farmer Empowerment Project, which aims to provide technical support by forming 200 producer groups in the financial year 2024-2025.