The Uttarakhand state government has presented a comprehensive and ambitious budget for the fiscal year 2024-25, amounting to Rs 89,230 crore. This budget represents a 15.27% increase over the previous year and underscores the state’s commitment to inclusive development and economic growth.
Key Highlights:
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Economic Growth and Fiscal Responsibility:
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The budget focuses on sustainable economic growth, with a projected economic growth rate of 7.63%, higher than the national average. This growth is supported by prudent fiscal policies aimed at maintaining a manageable fiscal deficit.
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Sectoral Allocations:
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Education: A total of Rs 11,700 crore has been allocated to education. This includes significant funding for primary and secondary education to enhance the quality and accessibility of education across the state.
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Health and Family Welfare: The budget allocates Rs 4,574 crore to health services, including substantial investments in disease prevention and rural health infrastructure.
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Agriculture and Allied Activities: The agriculture sector receives Rs 4,450 crore, focusing on initiatives like the National Mission for Natural Farming and the Chief Minister Matsya Sampada Yojana, aimed at improving the livelihoods of farmers.
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Infrastructure Development:
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Capital Outlay: The budget proposes a capital outlay of Rs 13,780 crore, a 32% increase over the previous year, indicating a strong emphasis on building infrastructure. This includes significant investments in roads, bridges, and irrigation projects like the Jamarani Dam Multipurpose project (PRS Legislative Research).
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Energy and Water Supply: With allocations of Rs 1,263 crore and Rs 1,186 crore respectively, the budget emphasizes improving energy infrastructure and ensuring reliable water supply for both urban and rural areas.
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Social Welfare and Employment:
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Social Welfare: A total of Rs 4,572 crore is earmarked for social welfare programs, including significant allocations for child and women welfare, and pensions for the elderly.
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Employment and Skill Development: The budget includes Rs 1,679 crore for youth welfare and technical education, with a focus on organizing national games and creating employment opportunities.
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Inclusive Development Initiatives:
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The budget aligns with the “double-engine” government’s vision of inclusive development, emphasizing the upliftment of poor, youth, women, and farmers. Specific schemes like the Deendayal Upadhyaya Cooperative Farmers Welfare Scheme and the Chief Minister Minority Meritorious Girls Promotion Scheme highlight the government’s focus on inclusive growth.
Conclusion:
The 2024-2025 budget of Uttarakhand is a forward-looking financial plan that aims to foster inclusive development and economic resilience. With substantial investments across key sectors, the state is poised to make significant strides in improving the quality of life for its residents while ensuring sustainable economic growth. The government's commitment to social welfare, infrastructure development, and fiscal responsibility reflects its vision for a prosperous and inclusive Uttarakhand. With the proposed improvements in the state, Uttarakhand is becoming a hotspot for investment especially in the real estate segment, people around the north region of the country are investing in holiday homes and building a business through rental earnings.
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