#UPBudget: Rs 50 cr of whopping Rs 3,84,659.71 cr budget allocated for industrial development

Chief Minister Yogi Adityanath-led Government of Uttar Pradesh has introduced the first budget of the new CM’s tenure in Assembly. Presenting the budget for fiscal year 2017-18, Finance Minister Rajesh Agrawal said the main objective of the Budget is to push the state growth in next 5 years at a rate of up to 10 per cent.

The announced budget is of a whopping Rs 3,84,659.71 crore of which the biggest crunch of Rs 36,000 crore has been allocated for farmer loan waivers. The 2017-18 budget is 10.9 per cent more than 2016-17 budget.

On the industrial development front, Rs 20 crore has been allocated for the implementation of the Industrial Investment and 2017. Rs 5 crore has been allocated for establishment of Special Investment Board for Industrial Investment Promotion.

Rs. 10 crore has been separated for setting up single window clearance system. Also, Rs 5 crore has been earmarked for establishment of incubators in Lucknow. Apart from these, an allocation of Rs 10 crore has been made for the ‘Vishwakarma Shram Samman Yojana’.

The budget includes new schemes of worth Rs 55,781.96 crore. In the budget presented by the UP government, each sector has been paid attention with a special mention to enterprises development, given Chief Minister Adityanath’s vision to promote ‘Make in UP’ in line with Centre’s ‘Make in India’.