UP Achieves Revenue Surplus, Meets Requirements Independently: CM Yogi

Lucknow, Aug 1 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Thursday said that the state has achieved a revenue surplus status and is now capable of meeting most of its requirements independently.

Speaking during the Assembly's monsoon session about the supplementary budget, he said, “To support Prime Minister Narendra Modi's goal of a 5 trillion dollar economy and to establish the state as a one trillion dollar economy, we have introduced a supplementary budget of over Rs 12,000 crore."

He said that 44 per cent of the funds from the original budget for the 2024-25 financial year have been released, with 20 per cent already utilized and added that now the size of the basic budget for the 2024-25 financial year has now reached Rs 7.5 lakh crore, which is double the size of the 2015-16 budget.

On the need of a supplementary budget, he said that the scope of the state budget has been expanded to meet the growing needs of the state.

After passing the original budget in February, its implementation began immediately with the start of the financial year in April. The original budget for 2024-25 was Rs 7.36 lakh crore and despite the onset of general elections shortly after the financial year began, 44 per cent of the budget has been released for various departments, and over 20 per cent has already been spent.

He said, “This supplementary budget will boost investment in Uttar Pradesh. Today, both the GDP and per capita income of the state have more than doubled. When we came to power, our economy was ranked sixth or seventh in the country, and the state was facing an identity crisis. However, that perception has changed, and today UP has become the second-largest economy in the country.

The Chief Minister stated that Uttar Pradesh has successfully increased its share in the National GDP. Previously, the state's share was 6-7 per cent, but it has now risen to 9-10 per cent. He highlighted that UP is now among the states that have established themselves as revenue surplus through effective resource mobilization, enabling the state to meet most of its requirements internally.

He said strict measures were implemented to combat tax evasion. He pointed out that in 2017, UP's Credit Deposit (CD) ratio was 44 per cent, but it has now increased to 60 per cent, indicating a rise in employment opportunities.

The supplementary budget includes funding for the Ganga Expressway to complete its main carriageway by December 2024, ahead of the Prayagraj Maha Kumbh in 2025. This project aims to provide a seamless connection between Western and Eastern Uttar Pradesh.

Work is also progressing on the Chitrakoot Link Expressway, Gorakhpur Link Expressway, and Ballia Link Expressway. A new expressway is also being planned to connect the Agra-Lucknow Expressway with Shahjahanpur and Farrukhabad.

The government is also working to connect the Purvanchal Expressway with the Agra-Lucknow Expressway and enhance interstate connectivity by upgrading to four-lane roads, making Uttar Pradesh more accessible to visitors.

Preparations are underway for the India-Nepal Friendship Gate on the Nepal border, symbolizing a warm welcome to visitors in cooperation with neighbouring states, he said.

He said plans are afoot to establish the BIDA (Bundelkhand Industrial Development Authority) in Bundelkhand, with construction underway on 36,000 acres of land. This initiative aims to create a new industrial city akin to Noida, revitalizing the Bundelkhand region after 46 years.

The state has also launched the Rapid Rail service between Delhi and Meerut, significantly reducing travel time from three and a half to four hours to 40 to 45 minutes, thanks to a 12-lane expressway and the new rail service, he said.

Earlier, speaking on the budget, Leader of Opposition Mata Prasad Pandey said that the Supplementary budget is brought only when there is extreme need.

"The original budget was passed in February itself and a large part of it is yet to be spent and even in those subjects for which we have brought the full budget, a huge amount of budget is still left.

While making the budget, the finance minister has a big responsibility to consider the possibilities of the entire state and then prepare the budget but at the time when the budget was being made, I think you did not consider the need for supplementary items," he said.

"Within six months, you got the idea for something and for which you have brought the supplementary budget. then I think this way is also a kind of financial irregularity. The government had passed its budget in February and the financial approvals that you have issued have also not been completed," he said.

"Today, there is a practice that wherever the Chief Minister or any minister goes, they make an announcement there. When the announcement is made, it has to be fulfilled. There is no provision for it in the budget, so you have to make arrangements for it in the supplementary budget," he said.

Parliamentary Affairs minister, Suresh Kumar Khanna replying to him said that there is a provision of supplementary budget and there is no irregularity in this.

Congress leader Aradhana Mishra Mona and other party leaders also briefly shared their views on the budget. Later, it was passed with a voice vote in the assembly and it was adjourned sine die.