UP’s first budget to pave the way for trillion dollar economy: CM Yogi

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The investment of Rs 33.50 lakh crore in the Global Investors Summit is an example of the credibility of Uttar Pradesh and with the first ground breaking ceremony, the state will move rapidly towards becoming a trillion dollar economy.

Speaking in the ongoing discussion on the budget in the Uttar Pradesh Legislative Assembly on Wednesday, Chief Minister Yogi Adityanath said that the size of the state has more than doubled in six years. He said that the budget which was 3.40 thousand crores in 2016-17 has been more than double this time i.e. more than 6.90 thousand crores. It represents the expansion of the economy of Uttar Pradesh. It represents growth progress in GDP, but growth in capita income. Attacking the opposition, the Chief Minister said that you people had made the state sick, today it has recovered from it and is emerging as a big economy of the country. He said that let the first ground breaking happen, UP will be the number two economy and will be the leading economy of the country in five years. He further said that no additional tax was imposed on the public in the last five years. The price of petrol diesel is lowest in UP, compare it with neighboring states. The business class is eager to give GST in Uttar Pradesh and so far more than 26 lakh traders have registered for GST and are continuously doing so. The government has made available a security insurance cover of Rs 10 lakh to every trader.

Responding to the questions raised by Leader of Opposition Akhilesh Yadav on the budget and investors’ conference, Yogi said that he was saying that if the Chief Minister had gone to Davos, a proposal of 50 lakh crores would have come. It shows that they are confident that the offers have come. This is a symbol of public trust and credibility of the government. Why didn’t this come before 2017. He said that ‘One District One Product’ has given new life to the traditional products and MSMEs of the state, as a result of which Uttar Pradesh has become the hub of exports. Today Uttar Pradesh is exporting more than double as compared to 2016-17. He said that Uttar Pradesh is a revenue surplus state today. Earlier the revenue used to come to 86 thousand crores. This time, by March 31, the total revenue is going to be 2 lakh 30 thousand crores, which is more than double. GST used to cost 49-51 thousand crores in 2016, now it is going to cross 1 lakh 24 thousand crores. The state got a little more than 12 thousand crores in excise revenue in 2016-17, this time 45 thousand crores is going to come. He said that Uttar Pradesh kept the fiscal deficit under control while facing the epidemic like Kovid 19, This is the best example of financial management of the government, for which the opposition should appreciate the government.

Praising the budget of 2022-23, Chief Minister Yogi said that all the promises made to the public in this budget have been included in it. In the 2022 assembly elections, the party had promised 130 resolutions while releasing the Lok Kalyan Sankalp Patra. Now budget has been arranged for 110 out of 130 resolutions. A total amount of 64,700 crores has been arranged for this. This amount has been arranged for the poor, farmers, youth and women.

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