Uttar Pradesh Budget

The Uttar Pradesh government is likely to miss the budgeted revenue surplus of 2.8 per cent by a wide margin, even though it may meet the fiscal deficit target of 3.5 per cent next fiscal, says a report by India Ratings. Noting that the UP budget presented earlier this week made many over-the-top assumptions regarding nominal GSDP growth and own revenue, India Ratings said while the fiscal deficit target of 3.5 per cent of gross state domestic product (GSDP) for FY24 is achievable, the revenue surplus is expected to be half of what has been budgeted. While the state has budgeted a revenue surplus of 2.8 per cent of the GSDP, the agency expects it to be at just about 1.4 per cent in FY24. Barring FY21, UP has maintained its revenue surplus position since FY06. The Centre allows states to borrow 3 per cent of their GSDP or as fiscal deficit, and an additional 50 basis points if they meet certain reforms in the power distribution and certain areas. According to the revised estimates

The Uttar Pradesh government on Wednesday presented a Rs 6,90,242.43 crore Budget, including new schemes worth Rs 32,721.96 crore, for the financial year 2023-24. The total receipt is estimated at Rs 6,83,292.74 crore, which includes revenue receipts of Rs 5,70,865.66 crore and capital receipts of Rs 11,247.08 crore, Uttar Pradesh Finance Minister Suresh Kumar Khanna said. The share of tax revenue in revenue receipts is Rs 44,58,71.59 crore, including its own tax revenue of Rs 2,62,634 crore and the state's share in central taxes of Rs 1,83,237.59 crore. Its total expenditure is projected at Rs 6,90,242.43 crore. Out of this Rs 5,02,354.01 crore is spent on the Revenue Account and Rs 1,87,888.42 crore is spent on Capital Account. After deducting the total expenditure from the receipts of the Consolidated Fund, a deficit of Rs 6,949.69 crore is estimated. Net receipts of Rs 5,500 crore are estimated from Public Accounts, Khanna said. The net result of all transactions is estimated

State Finance Minister Suresh Khanna said that the focus is likely to be on infrastructure development, health sector and education

Disruption of House proceeding is neither in the interest of democracy nor for the state and the opposition should raise issues in a dignified way, Uttar Pradesh Chief Minister Yogi Adityanath said on Monday. Adityanath made the remarks ahead of the start of the Budget session of the Uttar Pradesh Assembly. "There can be 'asahmati' (differences) between ruling and opposition parties. The ruling side cannot run away from answering issues of public interest. Disruption (of House) is neither in the interest of democracy nor the state," he told reporters in assembly premises. He said the opposition should raise issues with "shalinta" (in a dignified way) and use "Prabhavi shabdavali" (effective words) in the House. "The budget for 25 crore people of the state will be presented on February 22. If needed, after discussion with other party leaders, the House will also meet on Saturday also," he said. The government, he said, was ready for a discussion and will reply on all issues raised

The Samajwadi Party (SP) MLAs protested against the policies of the state government outside the Uttar Pradesh assembly in Lucknow ahead of the commencement of the Budget Session on Monday

In an all-party meeting ahead of the Uttar Pradesh Budget Session, Speaker Satish Mahana on Sunday sought the support of members in the smooth functioning of the House. The session will start on Monday with the Governor's address to the joint sitting of the legislative assembly and the legislative council. The speaker also requested all members to be present for the address and proceedings. The meeting was attended by Chief Minister Yogi Adityanath, members of the ruling BJP as well as opposition parties. Though Leader of Opposition in the Uttar Pradesh Assembly and Samajwadi Party (SP) chief Akhilesh Yadav was not present, the party was represented by its chief whip in the assembly Manoj Kumar Pandey. In this first session of the year, discussion on Budget-2023, is going to be held according to parliamentary norms, the chief minister said. "The House is the place for meaningful discussions. All of us ran the House during the Covid period, which was appreciated in the country and

UP Govt. will be appointing Udyami Mitras (friends of entrepreneurs) soon for the implementation of Rs 33.52 lakh crore investment proposals received through the UP Global Investors Summit-2023

The Uttar Pradesh government is likely to table the supplementary budget on Tuesday, the second day of Uttar Pradesh's assembly session

The UP government has said unless the credit flow is equitable across the different regions, the goal of a $1-trillion economy would remain elusive

The company proposes to invest Rs 1071. 28 crore here with around 1,500 expected employment avenues

Uttar Pradesh recorded 15,747 fresh Covid-19 cases that took the infection count to 15,96,628 while 312 more fatalities pushed the death toll to 16,958

Topping the debt is market borrowings of more than Rs 4.18 trillion by the state government and its agencies.

The UP government on Tuesday presented a Rs 5,12,860.72 crore budget for FY 2020-21 in the state assembly

The size of the UP Annual Budget 2020-21 is expected to breach the historic mark of Rs 5 trillion

State achieves 3.2 per cent growth, compared with India's industrial growth of 2 per cent.

Composite public debt of UP is within the stipulated 30% of the GSDP and estimated at 29.8% for next fiscal

The budget earmarks Rs 6.5 bn for Bundelkhand expressway project, Rs 5.5 bn Gorkahpur link expressway project, Rs 10 bn for Purvanchal expressway, Rs 5 bn Agra-Lucknow expressway

Provision of Rs 1,215 cr made for the construction of toilets under the Swachh Bharat Mission