Uttar Pradesh

• 06 Dec 2022

Uttar Pradesh Government Presents Rs 33,700 crore Supplementary Budget

Why In News?

• On December 5, 2022, the Uttar Pradesh government presented a supplementary budget of Rs 33,769 crore for the financial year 2022-23 in the assembly with the aim of urbanization, industrialization and developing religious heritage sites in the state.

Key Points

• On the first day of the Uttar Pradesh Legislature session, Finance Minister Suresh Khanna presented the supplementary budget.
• Out of the corpus of Rs 33,769 crore, Rs 14,000 crore has been allocated for new schemes. A sum of Rs 296.56 crore has been proposed for the Uttar Pradesh Global Investors Summit to be held in February next year.
• With the corpus for the Global Investors Summit in the supplementary budget, the government said it aims to build a $1 trillion economy in the state. For this, a provision of reimbursement of Rs 14.35 crore has been made to the consulting agency appointed to guide the government.
• The state government has earmarked Rs 4,000 crore for infrastructure and overall development of 'New Cities' in this budget.
• Funds will also be allocated for incentives given under the new policies announced for sectors such as tourism, electric vehicles, solar energy, startups and setting up of industrial parks.
• A fund of Rs 300 crore will be allocated to provide financial assistance to investors investing in setting up industrial parks, while Rs 100 crore has been earmarked for incentives related to setting up startups.
• In the supplementary budget, a provision of Rs 899 crore has been made for the Smart City Mission and Rs 2.5 crore for the development of Ayodhya Solar City in line with the government's plan to set up a solar city under the new Solar Policy 2022 .
• In its supplementary budget, the government has allocated Rs 100 crore for subsidy under the newly announced electric vehicle policy, Rs 200 crore for the purchase of 1,000 new buses, Rs 20 crore for developing eco-tourism in the state and Rs 1 crore for developing Kukrail Night Safaris.
• In the budget, a provision of Rs 800 crore has been made to give loans to various industrial development authorities in Uttar Pradesh. Apart from this, Rs 5,900 crore will be set aside for financing projects and schemes in the power sector.
• Four cities in Uttar Pradesh - Varanasi, Noida, Agra and Lucknow - are scheduled to host the G-20 Leadership Summit next year, for which a provision of Rs 25 crore has been made in the supplementary budget. A provision of Rs 804 crore has been made in the budget for the development of information and communication services.
• A provision of Rs 2337 crore has been made for the construction and ramping of roads in the state. Apart from this, Rs 155 crore will be set aside for the development of roads constructed by the Sugarcane Development Council. As part of the government's efforts to promote sports in rural areas of the state, Rs 15 crore has been set aside for building and developing stadiums and open gyms.
• The supplementary budget also has a provision of Rs 190 crore for agricultural credit subsidy.
• Continuing its effort for spiritual tourism, the government plans to spend Rs 5 crore to develop places around religious attractions like development of roads and facilities at Veda Vigyan Kendra in Naimisharanay.