LUCKNOW: ‘Development’ is expected to be a major poll theme for BJP in the assembly elections scheduled in 2022, where the plan is to project infrastructural projects as key achievements of chief minister Yogi Adityanath.
The coming budget, therefore, is likely to keep its focus firmly on industry and infrastructure. In the previous budget, Rs 3,194 crore had been set aside for the Purvanchal, Bundelkhand and Gorakhpur Link Expressways. While Purvanchal Expressway is set to become operational on Diwali, work has started on the remaining two projects with the aim to complete as much as possible ahead of 2022 elections.
The Ganga Expressway is another critical project for which the government would want to start work this financial year. In the budget, Rs 500 crore is proposed for land acquisition for the defence corridor along the Bundelkhand Expressway. The CM has announced that a land bank of 25,000 acre will be created for defence projects in the proposed corridor and therefore, budgetary provision under this head could see a major increase.
Another major event coming up this year is the global investors’ summit for which the government will undertake at least nine international road shows. It hopes that MoUs for at least a few lakh rupees are signed. This, when added to MoUs signed during the 2018 investors’ summit and the recently concluded defence corridor, takes the total MoUs on which the government would hope to begin work to at least Rs 8 lakh crore. So far, groundbreaking has been done for projects worth Rs 1.3 lakh crore. Over past two years, the government has set aside an average of Rs 1,100 crore for promotion of industrial investment. Sources say that this allocation may see a significant increase this time.
UP has more than 90 lakh medium, small and micro enterprise (MSME) units, among the highest in the country. However, the budgetary allocation for these was Rs 10 crore in the last budget, along with Rs 250 crore for the ‘one district-one product’ scheme. With many businesses taking a hit under demonetisation and GST, MSME industry bodies have been demanding greater allocation in the budget. This year, other than setting up export promotion offices in each district, the government is also considering a proposal to start a course on entrepreneurship in schools and start a CM Swarozgar Scheme to provide seed money for startups. This could see a larger budgetary allocation under ODOP this year.
The coming budget, therefore, is likely to keep its focus firmly on industry and infrastructure. In the previous budget, Rs 3,194 crore had been set aside for the Purvanchal, Bundelkhand and Gorakhpur Link Expressways. While Purvanchal Expressway is set to become operational on Diwali, work has started on the remaining two projects with the aim to complete as much as possible ahead of 2022 elections.
The Ganga Expressway is another critical project for which the government would want to start work this financial year. In the budget, Rs 500 crore is proposed for land acquisition for the defence corridor along the Bundelkhand Expressway. The CM has announced that a land bank of 25,000 acre will be created for defence projects in the proposed corridor and therefore, budgetary provision under this head could see a major increase.
Another major event coming up this year is the global investors’ summit for which the government will undertake at least nine international road shows. It hopes that MoUs for at least a few lakh rupees are signed. This, when added to MoUs signed during the 2018 investors’ summit and the recently concluded defence corridor, takes the total MoUs on which the government would hope to begin work to at least Rs 8 lakh crore. So far, groundbreaking has been done for projects worth Rs 1.3 lakh crore. Over past two years, the government has set aside an average of Rs 1,100 crore for promotion of industrial investment. Sources say that this allocation may see a significant increase this time.
UP has more than 90 lakh medium, small and micro enterprise (MSME) units, among the highest in the country. However, the budgetary allocation for these was Rs 10 crore in the last budget, along with Rs 250 crore for the ‘one district-one product’ scheme. With many businesses taking a hit under demonetisation and GST, MSME industry bodies have been demanding greater allocation in the budget. This year, other than setting up export promotion offices in each district, the government is also considering a proposal to start a course on entrepreneurship in schools and start a CM Swarozgar Scheme to provide seed money for startups. This could see a larger budgetary allocation under ODOP this year.
Get the app