UP budget shows Rs 7,469cr deficit

Govt to write off Rs36k-cr of farmers' loans
Report by: 
Agencies
Lucknow
11 Jul 2017

The maiden budget of the Yogi Adityanath government shows a deficit of Rs 7,468.83 crore the current fiscal.
The total receipts have been estimated at Rs 3,77,190.88 crore, of which revenue receipts account for Rs 3,19,397.43 crore and capital receipts Rs 57,793.43 crore.
On the other hand, the total expenditure is estimated at Rs 3,84,659.71 crore. It includes Rs 3,07,118.63 crore by way of revenue expenditure and Rs 77,541.08 crore by way of capital expenditure.
The budget figures show a revenue surplus of Rs 12,278.80 crore and fiscal deficit of Rs 42,967.86 crore, which is 2.97 per cent of the gross state domestic product.
After deducting total expenditure from the receipts of consolidated fund, a deficit of Rs 7,468.83 crore is estimated.
A net receipt of Rs 7,600 crore is estimated from public accounts.
As per the budget proposal, the state would get Rs 65,000 crore as GST share from the Centre, while from Excise, the government would collect Rs 20,593 crore.
The data shows that the closing balance for 2017-18 is estimated around Rs 1,204.55 crore in which opening balance of Rs 1,335.72 crore has been taken into account.
The government also make a special provision of Rs 36,000 crore to honour its poll promise of farm loan waiver through debt redemption.
Presenting the budget in the Assembly, Finance Minister Rajesh Agarwal said the budget is 10.9 per cent higher than last fiscal's and earmarks Rs 55,781.96 crore for new schemes.
The farm loan waiver was a major promise in the BJP's election manifesto and the fulfilment of the commitment was a big challenge before the Adityanath government, which has just completed 100 days in office.
Chief Minister Yogi Adityanath described the budget as "progress" and asserted that his government is determined to fulfilling the pre-poll commitments made by his party.
Starting his speech eulogising the massive mandate for his party in the last Assembly elections with a triumph over "pseudo-secular and vested coalitions", Agarwal mentioned the challenges of the government in the form of a dismal state of affairs it inherited from the previous regimes.
Making a mention of the 'Lok Sankalp Patra 2017', he said the chief minister has set the target of achieving 10 per cent growth rate in coming five years.
On the projected growth rate, the chief minister later told reporters that Uttar Pradesh would be among the most developed states.
Stressing on the government's aim towards a balanced growth of the state, the finance minister spoke about the resolve to make Uttar Pradesh open-defecation free by Gandhi Jayanti next year.
Elaborating on the budgetary provisions for farmers and villages, he said the government has brought in a package for potato growers and ensured payment of cane dues worth Rs 22,682 crore in the first 100 days of coming to power.
Referring to the ongoing metro project in Lucknow and the proposed ones in Kanpur, Varanasi, Agra and Gorakhpur, the budget made a provision of Rs 288 crore and another Rs 598 crore for broadening and strengthening of roads to augment infrastructure in the state.
There is a provision of Rs 300 crore for Deendayal Upadhyaya Nagar Vikas Yojna, Rs 3,000 crore for Pradhan Mantri Avas Yojna and also a plan to connect the backward Bundelkhand region with Delhi through an expressway.
A sum of Rs 100 crore has been provided for supply of free school bags to students in schools run by the UP Basic Shiksha Parishad and Rs 300 crore for shoes and sweaters, he said. (PTI)