The UP budget for 2024-25 is dedicated to Lord Ram and has been for "lokmangal" (public welfare), said Uttar Pradesh Chief Minister Yogi Adityanath.
"Today's UP budget is dedicated to Lord Ram and has been for "lokmangal. The main highlight of this budget is that it restricts the RBI's FRBM (Fiscal Responsibility and Budget Management) limit of 3.5 per cent to 3.46 per cent. This budget includes fiscal discipline along with the government's vision of safety, development, and good governance," he said.
The chief minister said that the budget was the state's largest, and UP's economy is the second biggest in the country.
"This is the state's largest budget of over Rs 7.36 lakh crores. Today, UP's economy is the second biggest in the country. We adopted reforms and stopped revenue leakages to achieve this. UP is a revenue-surplus state now. This budget is also the 'Pink budget', with a focus on 'Matri Shakti' and women-related schemes in the state," he said.
Uttar Pradesh Finance Minister Suresh Kumar Khanna unveiled the budget for the financial year 2024-25 in the state assembly, with a total outlay of Rs 7.36 lakh crore. This marks an increase from the current fiscal year's budget, which stood at Rs 6.90 lakh crore.
The budget for the upcoming fiscal year includes allocations for new schemes amounting to Rs 24,863.57 crore. In the previous fiscal year, the state's budget was Rs 6.90 lakh crore, with new schemes worth Rs 32,721 crore.
The state government's budget for the next fiscal year estimates total receipts at Rs 7,21,233.82 crore, encompassing revenue receipts of Rs 6,06,802.40 crore and capital receipts of Rs 1,14,531.42 crore. The share of tax collection in revenue receipts is anticipated to be Rs 4,88,902.84 crore, including the state's own tax revenue of Rs 2,70,086 crore and its share in the central tax pool at Rs 2,18,816.84 crore.
The total expenditure is projected at Rs 7,36,437.71 crore, with Rs 5,32,655.33 crore allocated for the revenue account and Rs 2,03,782.38 crore for the capital account. After accounting for the total expenditure from the receipts of the consolidated fund, a deficit of Rs 15,103.89 crore is expected in the budget.
(With PTI inputs)
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