"Up" at the end of "raise me up" and "down" at the end of "lower me down" are not necessary, but are common colloquially, so they are not wrong. Also, you should not examine the grammar or word choice of songs or other poetry with an eye toward "correctness", as it's frequently nonstandard.
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ShyuanMay I know whether "Raise Me Up" is correct?In the sense of 'lift my spirits' I'd say it's just fine.