Today, the final whole comprehensive budget of this year’s state led by the Yogi Adityanath government was presented. The budget would be the most critical piece, and the focus would be on youth skilling, infrastructure and rural development, the guiding principle of this state development policy. For the financial year, government fiscal discipline is supported by an overall budget of ₹9,12,696.35 crore with a shortfall restricted only to a slim 3 percent of the State Gross Domestic Product (GSDP).
Key Sectoral Allocations
However, such a policy shift to realign the budget for 2023-24 has also made evident that priorities now rest with investments in a better human capital system and the larger rural expansion agenda. “When it comes back to these topics (which it is doing right now), we do have a government that wants to work on building up a strong, broad-based economy.
Education (12.4%): Its spending, along with the public sector and the private sector, is the largest sectoral part of the budget. The new investment is aimed at modernizing elementary schools and aiding the opening of new higher education facilities across the state. The aim here was not only a new or improved model of education provision but a transition and the education of young people at all levels, the endowment of access for all students; and the transformation of a strong workforce, ready for years to come.
Health (6%): ₹37,956 crore is allocated for the health and family welfare which details the establishment of emergency and trauma centers in every district hospital. The initiative is a vital step as a part of increasing access to healthcare and timely medical assistance for disaster crisis affected people and in order to create a resilient society in emergencies.
Agriculture (9%): Most agriculture focus is also covered by subsidy of high level energy to the diesel pump, and new agri-export centers are also receiving significant investment. Targeted to farmers that modernize agriculture practices and productivity in the area to give farmers and increase agricultural output throughout the State more income-sharing and farming productivity in the family sector.
Infrastructure: ₹34,468 crore is earmarked solely for roads and bridges only, ₹34,468 crore is entirely dedicated to the new road and bridge that will advance regional connectivity in the state. Another significant task of these documents is the commitment of the government to promote two new fast rail lanes — new fast rail lanes in Delhi-Varanasi and Varanasi-Siliguri — both the two new high-speed lines that it says it wants to put into circulation in the state through better infrastructure in order to facilitate movement in New Delhi for efficient economic growth through the new rapid, streamlined way.
Women for Voice and Yuva Shakti
The government has launched a bold undertaking to strengthen the women, and the youth through Mission Mode Skilling to establish skill and employment placement centres in the various zones as per the Public-Private Partnership (PPP) arrangement. It is intended to also train and prepare young people for the future jobs they will need to work in in the current competitive landscape.
Approval of Women's Services
₹100 crore for incubating women's hostels at every district. Women workforce skill centers will also contribute to the corpus with different inputs that aid women to get the right resources/training for entering and to thrive in labor market.
AI & Digital Innovation
It contains a ₹225 crore commitment for the UP AI Mission. This investment is evidence to the administration’s perspective of how AI and digital innovation can drive economic growth and improve public services.
Economic Indicators
Among its most important economic indicators, reflecting the financial health and output of the state, the Finance Minister stressed in his remarks.
Unemployment is falling by way of the fact that the current unemployment rate in our state has reached a record low of only 2.24%, the result of a policy of work programs and programs undertaken by our government with its economy successfully integrated.
Poverty reduction: The state has also succeeded drastically in reducing poverty, approximately 6 crore people across the board are no longer living in poverty. It underlines the government’s strong social welfare & economic inclusiveness.
The GSDP has increased to a staggering new level: The Gross State Domestic Product (GSDP) has improved to a record-breaking ₹30.25 lakh crore - up 13.4% from the previous year. That robust growth trajectory is a tribute to the success of the government’s fiscal policies and investment policies to kick-start the state’s economy.
The Yogi Adityanath government’s final budget was, at the end of the day, a progressive programme with the goals to empower and develop youth, infrastructure, health and education. These endeavors are likely to make Uttar Pradesh a sustainable growth and therefore a better place for the people of UP.
