UP Finance Minister Suresh Kumar Khanna tables Rs 8.09 lakh cr Budget for FY26

Lucknow: Uttar Pradesh Finance Minister Suresh Kumar Khanna on Thursday tabled a Rs 8,08,736-crore Budget for the financial year 2025-26 in the state assembly, with a focus on research & development and Information Technology.

Khanna in his Budget speech said around 22 per cent of the Budget has been allocated for development purposes, 13 per cent for education, 11 per cent for agriculture and related services, while six per cent has been allocated for health.

"We have focussed on research, development and Information Technology in the Budget," said Khanna.

Khanna began his address by praising Chief Minister Yogi Adityanath and highlighting developments in the state under his leadership.

He also mentioned the ongoing Maha Kumbh as he began his address. He described the Kumbh as not only a cultural and religious event but also a rare astronomical occurrence symbolising India's ancient faith and cultural integrity.

Khanna said the total Budget outlay for financial year 2025-26 is 9.8 per cent higher than the Budget outlay for FY25.

The size of the state's Budget for 2024-25 was Rs 7,36,437 crore that included new schemes worth Rs 24,863.57 crore.

Khanna said the state government will develop an Artificial Intelligence City and set up a park for technological research in cyber security.

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.

Khanna informed that work will be done to develop 58 municipal bodies of the state as ideal smart municipal bodies. For this, a provision of Rs 2.50 crore per municipal body amounting to a total of Rs 145 crore was proposed.

Khanna said that the Uttar Pradesh Building and Other Construction Workers Welfare Board will work on the plan to build workers/labor bases in the district headquarters of the state, in which canteen, drinking water, bathroom and toilet facilities will be provided.

He said the state government has started 'Zero Poverty Abhiyan' from October 02, 2024 on the occasion of Gandhi Jayanti. Under this campaign, action is being taken to identify the poorest families from each Gram Panchayat and meet their basic needs and bring their annual income to at least Rs 1,25,000.

Khanna outlined improvements in the state's financial standing. He mentioned that Uttar Pradesh has been recognized as a "front runner state" by NITI Aayog, highlighting progress in health, capital expenditure, and overall economic growth.

He noted that the state's fiscal deficit remains within prescribed limits, and efforts to increase development expenditure and reduce indebtedness have been successful.

"According to a report by the Reserve Bank of India, Uttar Pradesh's share of tax receipts among all states is among the highest in the country, reflecting strong financial management," he said.

The state's economy, which was in a difficult position in 2017, has now doubled, with the Gross State Domestic Product (GSDP) projected to reach Rs 27.51 lakh crore for the financial year 2024-2025. The per capita income has also seen substantial growth, from Rs 52,671 in 2016-2017 to Rs 93,514 in 2023-2024, Khanna informed.