UP rank first in country on highest investment in development and infrastructure
This was due to fastest industrial development in the state during the past 8 years.
According to the recent report, UP alone is estimated to have a share of 16.3% in the financial year 2025-26 in India's total capital expenses, which is the highest in all states. This will be the second consecutive year when Uttar Pradesh will be on top of capital expenditure under the leadership of Chief Minister Yogi Adityanath.
It is noteworthy that capital expenditure means the amount that governments spend on the construction or acquisition of permanent assets such as roads and highways, schools, hospitals etc.
In simple terms, this is the expense that the government makes for future convenience and development such as building infrastructure.
According to the recent report submitted by Bank of Baroda, the total capital expenditure of 26 states of the country is estimated to reach ₹ 10.2 lakh crore in FY 2025-26, which was ₹ 8.7 lakh crore in the last financial year. According to the report, Uttar Pradesh have a share of 16.3% followed by Gujarat (9.4%), Maharashtra (8.3%), Madhya Pradesh (8.1%) and Karnataka (7.6%) These five states will jointly spend more than 50% of the country's total capital expenditure.
At the top of these figures, the name of Uttar Pradesh is an indication that the speed of infrastructure and industrial development in the state is faster. In the last financial year 2024-25, UP also spent the highest 16.9% capital. This was followed by Maharashtra (10.9%), Gujarat (8.1%), Madhya Pradesh (7.5%) and Odisha (6.4%).
Reports says that large projects such as the strategic plan, investor conferences, logistics hub construction, expressway and airports expanded by the UP government in the last few years have made the state the country's head in terms of capital investment.
Mega projects such as UP Industrial Defence Corridor, International Film City, Medical Colleges and Ganga Expressway mega projects are also prominent examples.
UP has also become the first choice for domestic and foreign investors due to the improvement in the Ease of Doing Business along with better Law and Order. The huge investment proposals received during the Global Investors Summit 2023 are now coming down on the ground, which has also increased the state's capital experience and new employment opportunities are also arising for the youth. Not only this, the joint efforts of the Central and State Government have given a big lead to budget allocation, approval of projects and financial assistance. This has given significant boost to capital expenditure in areas like health, education, infrastructure and urban development, the report claimed.
According to the report, the total receipts of 26 states in the current financial year are estimated at Rs 69.4 trillion. This amount is 10.6 percent more than the last financial year. The bank has estimated 12.3 percent increase in revenue receipts and 6.6 percent increase in capital receipts.
In this too, once again Uttar Pradesh is expected to be at the top with 13.3 percent stake. At number two is Maharashtra (11.3 percent), Madhya Pradesh, Karnataka and Rajasthan with 5.9 percent each. Tamil Nadu is not included in the top five this time.
The report of the Bank of Baroda states that all states will be very dependent on internal taxes and GST will be the largest part of its own tax revenue. States revenue are estimated by 89 percent income from other taxes including GST, sales tax, excise and stamp duty.
The largest share of this will be of GST (44.2 percent). Nagaland (67.3 percent), Delhi (59.7 percent) and Bihar (57.1 percent) states are the highest dependent on GST, while Madhya Pradesh (38.6 percent), Andhra Pradesh (37.4 percent) and Arunachal Pradesh (19.7 percent) have lowest dependencies.
The contribution of state excise duty on alcohol and tobacco is estimated to be 13.9 percent. The top three states in this category are Sikkim (27.3 percent), Andhra Pradesh (24.9 percent) and Uttar Pradesh (21.4 percent).
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