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Union govt approves Rs 179.39 bn for UP Capital Investment Projects

2023-07-21

According to an official press release, the Union government has granted approval for Rs 179.39 billion to be allocated to various capital investment projects under the Special Assistance to States for Capital Investment 2023-24 Scheme for the Uttar Pradesh government.

In a statement to the press, the Minister for Finance, Suresh Khanna, revealed that the state government had submitted proposals to the Centre for projects in infrastructure and industrial development, energy, roads, bridges, and transport.

Khanna emphasised that the allocated central funds would be accessible for these projects and assured that the state government would execute them within specified timelines.

He further emphasised the significance of capital investment in stimulating the economy and fostering GSDP (Gross State Domestic Product) growth. The Uttar Pradesh government has been actively pursuing various initiatives aimed at transforming the state into a $1 trillion economy within the span of five years.