Connect with us
Monday,21-September-2026
Breaking News

Business

Yogi government in Uttar Pradesh presents state’s largest Budget with an eye on 2024 polls

Published

on

With an eye on the upcoming Lok Sabha elections, the Uttar Pradesh government led by Chief Minister Yogi Adityanath, on Thursday tabled a budget of
Rs 6,15,518.97 crore for the financial year 2022-23.

This is almost double the size of Rs 3,46,935 crore budget presented by Akhilesh Yadav government for the financial year 2016-17.

It includes new schemes worth Rs 39,181.10 crore.

The state government has also announced budgetary provision worth crores of rupees to strengthen the police and maintain law and order in the state.

Tabling the budget in the Assembly, state Finance Minister Suresh Khanna said that the government has not only made a record payment of Rs 1,72,745 crore to sugarcane farmers until May 16, 2022, which is Rs 77,530 crore more than the five years of accumulated payment of Rs 95,215 crore during Akhilesh Yadav’s government, but has also proposed Rs 1000 crore for payment to the remaining sugarcane farmers.

The budget proposes free irrigation facility to farmers through 34,307 government tube-wells and 252 minor branch canals as well as Rs 1000 crore under Mukhya Mantri Laghu Sinchai Yojana to address irrigation related issues of the state.

Furthermore, the budget proposes accidental insurance of Rs 650 crore for farmers under Mukhya Mantri Krishak Durghatana Kalyan Yojana.

The Yogi government aims to distribute 2 crore smartphones and tablets in the next five years, including 12 lakh in the current financial year itself.

It has also proposed Rs 897 crore for multi-modal connectivity projects under PM Gati Shakti Yojana and Rs 694. 34 crore for the 594 km long six-lane Ganga Expressway from Meerut to Prayagraj.

The total receipts in the current financial year are estimated at Rs 5,90,951.71 crore, including revenue receipts of Rs 4,99,212.71 crore and capital receipts of Rs 91,739 crore.

The share of tax revenue in revenue receipts is Rs 3,67,153.76 crore. This includes its own tax revenue of Rs 2,20,655 crore and the state’s share in central taxes of Rs 1,46,498.76 crore. The fiscal deficit is estimated of Rs 81,177.97 crore which is 3.96 per cent of the estimated Gross State Domestic Product.

The budget not only focuses on the education of youth and their employment, but also empowerment of women and farmers as well as all-round growth of the state and law and order.

Business

Look forward to meet EAM Jaishankar, discuss conclusion of trade pact: Canada Anita Anand

Published

on

New Delhi, Sep 21: Canadian Minister of Foreign Affairs, Anita Anand, has said that she looks forward to meeting External Affairs Minister (EAM) S Jaishankar this week and discuss the Comprehensive Economic Partnership Agreement (CEPA).

“The Canada-India bilateral relationship is growing and the conclusion of the CEPA before the end of the year is key to our overall strategy. I look forward to speaking with @DrSJaishankar this week during @UN high level week,” Anand posted on X.

Last week, EAM Jaishankar spoke with his Canadian counterpart, Anita Anand, holding discussions on bilateral cooperation as well as the situation in Ukraine. “Good to speak with FM Anita Anand of Canada this evening, on our bilateral cooperation as well as on the Ukraine situation,” EAM Jaishankar stated on X.

Meanwhile, Commerce and Industry Minister Piyush Goyal had a productive meeting here last week with Maninder Sidhu, Minister of International Trade, Canada, here on advancing the CEPA.

“I just finished round four of trade negotiations with my team in India. These negotiations require sustained, face-to-face cooperation, and I look forward to meeting with Minister Goyal again in the coming weeks as we continue to build momentum toward a CEPA agreement,” Sidhu posted on X.

Canada and India had $30.8 billion in two-way trade in 2024. Our goal is to more than double that to $70 billion by 2030.

“From agriculture and agri-food to energy, critical minerals, AI and tech, aerospace, and defence, a CEPA can open more doors for Canadian businesses in one of the world’s largest and fastest-growing markets,” said Sidhu.

Both sides reaffirmed “our leadership’s commitment to expedite negotiations and conclude CEPA at the earliest, unlocking new opportunities across trade in goods, services, and investment, among others,” Goyal posted on X.

The minister further stated he is confident that an early conclusion of India-Canada CEPA will help realise our shared vision of significantly increasing bilateral trade and deepening the India-Canada economic partnership for mutual benefit.

Continue Reading

Business

Sensex, Nifty post early gains over correction in crude prices

Published

on

Mumbai, Sep 21: The Indian equity markets opened on a positive note on Monday, driven by gains in realty stocks and correction in crude prices.

As of 9.20 am, Sensex added 411 points, or 0.55 per cent, to reach 74,706 and Nifty gained 33 points, or 0.14 per cent, to reach 23,379.

Main broad-cap indices showed divergence with the benchmark indices, as the Nifty Midcap 100 declined 0.19 per cent, and the Nifty Smallcap 100 shed 0.04 per cent.

Sectoral indices on NSE traded mixed, with Nifty IT and PSU banks posting moderate losses. Nifty realty was the top gainer, up 1.04 per cent, followed by auto, up 0.65 per cent.

Despite escalation of conflicts in the Middle East and the Russia-Ukraine war, Brent crude declined to below $102 due to the increasing oil flow through the Strait of Hormuz.

“The US 10-year bond yields are hovering around 5 per cent posing a threat to equity markets. But equity markets are holding their ground taking cues from the robust growth in developed economies and expectations of good corporate earnings. In India, too, this pattern is playing out,” an analyst said.

Global markets remain mixed, with Asian equities gaining on technology strength while easing crude prices are offering some relief.

In the previous session, Nifty surged 0.33 per cent, and its immediate support was placed at 23,100–23,200, while resistance was seen at 23,400–23,500.

In the previous session, Bank Nifty closed at 56,358.70, up 0.54 per cent, after recovering strongly from an intraday low of 56,073.55. Immediate support is placed at 55,800–56,000, while resistance is seen at 56,800–57,000.

In Asian markets, China’s Shanghai index gained 0.58 per cent, and Shenzhen added 0.63 per cent, Japan’s Nikkei added 1.38 per cent, and Hong Kong’s Hang Seng Index added 0.66 per cent. South Korea’s Kospi added 1.84 per cent.

The US markets ended in green on their last trading day, as Nasdaq gained 0.4 per cent. The S&P 500 added 0.17 per cent, and the Dow Jones declined 0.18 per cent.

On September 18, foreign institutional investors (FIIs) net bought equities worth Rs 599 crore, while domestic institutional investors (DIIs) bought equities worth Rs 1,019 crore.

Continue Reading

Business

Assam CM lays foundation stone for Adani Power’s Rs 48,000-crore thermal plant in Dhubri

Published

on

Guwahati, Sep 20: Assam Chief Minister Himanta Biswa Sarma on Sunday laid the foundation stone for Adani Power Limited’s 3,200 MW ultra-supercritical thermal power plant at Chapar in Dhubri district, marking one of the largest private investments in the state’s history.

The project, which entails an investment of around Rs 48,000 crore, is expected to significantly boost Assam’s power generation capacity while creating large-scale employment opportunities.

According to the company, the plant is likely to generate up to 20,000 jobs during the construction phase and around 5,000 permanent and indirect jobs once it becomes operational.

The foundation stone ceremony was attended by senior state government officials, industry representatives, community leaders and Adani Group Director Jeet Adani.

The Chapar thermal power project forms a major component of the Adani Group’s broader Rs 63,000-crore investment plan in Assam’s power sector.

The plant is scheduled to be commissioned in phases beginning in December 2030 and will comprise four units of 800 MW each. It will use ultra-supercritical technology designed to improve efficiency while incorporating modern environmental safeguards.

In his address at the event, Chief Minister Sarma said Assam is rapidly emerging as an energy hub for the Northeast and that several large energy projects are currently under development in the state. He described the Chapar project as a major outcome of the investment commitments made during the Advantage Assam Investor Summit 2.0.

“With an investment of nearly Rs 48,000 crore, this project will constitute one of the largest single investments ever made in Assam,” he stated.

Jeet Adani said the thermal power project marks the beginning of a new chapter in Assam’s development journey. “The project will also create jobs and open up opportunities for local contractors, suppliers and businesses. We are proud to invest in Assam and be part of the state’s economic growth,” he noted.

Highlighting the Group’s wider plans in the state, Jeet Adani said investments exceeding Rs 80,000 crore across power, aviation and cement sectors are already translating into projects on the ground.

Continue Reading

Trending