Ahead of Lok Sabha polls, the Uttar Pradesh government on Thursday presented Rs.4.79 lakh crore budget for 2019-20.
According to reports, the annual budget was presented by state Finance Minister Rajesh Agarwal. This year the budget is 12 per cent higher than the previous year’s budget of Rs. 4,28,384.52 crore.
UP Chief Minister Yogi Adityanath was present in the House when the Finance Minister read out the budget speech.
While giving the speech, the state finance minister has announced various other schemes. The schemes include “Kanya Sumangala Yojana” the scheme is made to raise health and educational standard of girls, to brighten their future and bring in a positive change in the thinking towards women. An amount of Rs.1,2croresore has been proposed for the Yojana.
For conservation of bovine cattle, the government has allotted Rs. 247.60 crore towards maintenance and construction of ‘gaushalas’ in rural areas.
The government has allocated Rs 1,000 crore has for the development of airports in Jewar and Rs 200 crore for the building of Ram temple in Ayodhya.
Rs 459 crore has been allocated for modernisation of Arabic/Persian language madrasas.
As per the budget estimate for 2019-20, the total receipts would be Rs 4,70,684.48 crore. The amount includes Rs.3,91,734.40 crore of revenue receipts and Rs.78,950.crores of capital receipts.
The tax revenue is pegged at Rs.2,93,039.17 crore, including Rs.1,40,176 crore of the State’s own tax revenue and Rs.1,52,863.17 crore of the State’s share in the Central taxes.
The total State expenditure is estimated at Rs.4,79,701.10 crore. It includes Rs.3,63,957.04 crore of revenue expenditure and Rs 1,15,744.06 crore of capital expenditure.
A revenue saving of Rs.27,777.36 crore is estimated in the year 2019-20.
The State’s fiscal deficit has been pegged at Rs.46,910.62 crore in 2019-20. The State’s debt liability is estimated at 29.98% of the State’s GDP.
After deducting total expenditure from the receipts of the consolidated fund, a deficit of Rs.9,016.62 crore has been projected for the next fiscal.
Net receipts of Rs9,50croresre is expected from the public account. The closing balance for 2019-20 is estimated at Rs.8,708.85 crore in which the opening balance of Rs.8,225.47 crores has been taken into account.