By News On Air Feb 20, 2025
Uttar Pradesh Finance Minister Suresh Kumar Khanna presented an 8 lakh 8 thousand 736 crore rupees budget for the financial year 2025-26 in the state assembly today with a special focus on research and development and information technology.
Speaking on the occasion, the State Finance Minister informed that the total budget outlay for the financial year 2025-26 is 9.8 percent higher than the budget outlay for the financial year 2024-25. In the budget, an estimate of around 5 lakh 83 thousand 174 crore rupees has been made for revenue expenditure and 2 lakh 25 thousand 561 crore rupees for capital expenditure. A provision of 28 thousand 478 crore rupees has been made for new expenditure items in the budget.
Finance Minister Khanna, in his budget speech, said 22 percent of the budget has been allocated for development purposes, 13 percent for education, 11 percent for agriculture and related services, and 6 percent has been allocated for health.
The State Finance Minister announced a 400 crore rupees provision for providing scooties to meritorious girl students going to college under the Rani Laxmibai Scooty Yojana. The state government will also develop an Artificial Intelligence City and set up a park for technological research in Cyber Security. Mr Khanna said that the state government has decided to build four new expressways in the state.
The UP Finance Minister announced that under the Mukhya Mantri Gramodyog Rojgar Yojna, bank loans will be provided to 800 beneficiaries, and new enterprises will be established to provide employment to 16,000 people. He also announced the establishment of the Pump Storage Hydroelectric Project, proposed at a cost of 3,953 crore rupees, to promote non-traditional energy sources. The project will be completed in four years. A provision of 50 crore rupees is proposed for the project. He added that a 500 MW solar power project is proposed to be established in district Jalaun as a joint venture between Uttar Pradesh State Electricity Generation Corporation Limited and Coal India Limited. The project’s cost is estimated to be 2500 crore rupees.
Praising Chief Minister Yogi Adityanath, the Finance Minister highlighted the developments in the state. Highlighting Mahakumbh during the address, Mr. Khanna described the Mahakumbh as not only a cultural and religious event but also a rare astronomical occurrence symbolising India’s ancient faith and cultural integrity.
There are also provisions for the modernisation of the Legislative Assembly as well as the development of smart classes and laboratories in schools and polytechnics.