The Union government has approved Rs 17,939 crore for the Uttar Pradesh government's special assistance to states for capital investment 2023–24 scheme for a number of capital investment projects.

According to a news release from the minister of finance Suresh Khanna, the state government had submitted numerous projects to the federal government's infrastructure and industrial development, energy, roads and bridges, and transportation departments.

Khanna said the central funds would remain available for these projects and the state government would implement them in a time bound manner.

He said capital investment is important to give a boost to the economy and the GSDP growth rate.

Uttar Pradesh government has been undertaking various initiatives to become USD 1 trillion economy state in five years.