UP Budget 2024: State Eyes 5.1 Per Cent Agricultural Growth In FY25

UP Budget 2024: FM Suresh Kumar Khanna unveiled plans for three new agriculture-related schemes and emphasised the government's commitment to bolstering agricultural development

The State Agricultural Development Scheme, allocated Rs 200 crore, stands as one of the key initiatives, alongside the World Bank-assisted UP Agris Scheme.

Source : PTI

The Uttar Pradesh government on Monday outlined a target of achieving a 5.1 per cent growth rate for the agriculture sector within the state. Finance Minister Suresh Kumar Khanna unveiled plans for three new agriculture-related schemes during his Budget presentation at the state Assembly. He emphasised the government's commitment to bolstering agricultural development.

The State Agricultural Development Scheme, allocated Rs 200 crore, stands as one of the key initiatives, alongside the World Bank-assisted UP Agris Scheme, which received an equal provision of Rs 200 crore. Additionally, Rs 60 crore has been designated for the installation of automatic weather stations and automatic rain gauges in blocks and panchayats across the state.

#WATCH | UP FM Suresh Khanna presents the budget in Vidhan Sabha, says "The ban on giving new private tube well connections in the dark zone has been lifted, which directly benefited about one lakh farmers...In the year 2023-2024, about 37 lakh Kisan Credit Cards were distributed… pic.twitter.com/UuHJxBNiIF

— ANI (@ANI) February 5, 2024

Minister Khanna announced the initiation of the Chief Minister Khet Suraksha Yojna (Farm Security Scheme) with an allocation of Rs 50 crore to enhance agricultural safety measures.

Furthermore, the Budget proposes an outlay of Rs 2,400 crore to subsidise electricity rates for private tube wells of farmers, marking a 25 per cent increase from the current fiscal year's allocation.

In a bid to expand access to renewable energy sources, the proposed Budget sets aside Rs 449.45 crore for the implementation of the PM Kusum Yojana, more than doubling the allocation from the previous fiscal year.

The Uttar Pradesh government's budgetary provisions underscore a concerted effort to fortify the agricultural sector and ensure sustainable growth in the state's economy.

Apart from agriculture, the finance minister also proposed an allocation of Rs 100 crore for hosting the Mahakumbh 2025. Khanna said Rs 10 crore to be set aside for the International Ramayana and Vedic Research Institute in Ayodhya.

The finance minister has said this Budget will be all-inclusive and help the state become a $1-trillion economy. Khanna, while talking to media ahead of presenting the annual Budget in the Assembly, said the Budget will be 'Sarv Samaveshi' (all-inclusive) and 'Sarv Sparshi' (taking care of all) to ensure all-round development.