UP govt tables budget of more than Rs 7.36 lakh crore in assembly

Lucknow, Feb 5 (UNI) The Uttar Pradesh government on Monday presented the general budget for financial year 2024-25 with a six of Rs 7,36,437.71 crore in the Legislative Assembly which is 6 percent higher as compared to the current fiscal.

Last year the state government presented the budget of more than Rs 6.90 lakh crore.

In the budget tabled by Finance Minister Suresh Khanna while no new tax has been proposed for the eight consecutive time, new schemes of Rs 24,863.57 crore have been proposed in the budget.

As per the budget document total receipts of Rs 7,21,333.82 crore have been estimated, which include revenue receipts of Rs 6,06,802.40 crores and capital receipts of Rs 1,14,531.42 crores. The share of tax revenue in revenue receipts is Rs 4,88,902.84 crore. This includes the state’s tax revenue of Rs 2,70,086 crore and the state’s share in central taxes Rs 2,18,816.84 crore.

In the biggest budget of the government so far total expenditure of Rs 7,36,437.71 crore has been estimated. Out of the total expenditure, Rs 5,32,655.33 crore is proposed to be spent on the revenue account and Rs 2,03,782.38 crore is spent on the capital account.

After deducting the total expenditure from the receipts of the consolidated fund, a deficit of Rs 15,103.89 crore is estimated. Besides, net receipts of Rs 5,500 crore is estimated from the Public Account.

The net result of the entire transaction is estimated to be of minus Rs 9,603.89 crore. Taking into account the opening balance of Rs 38,189.66 crore, the closing balance is estimated at Rs 28,585.77 crore.

The fiscal deficit is estimated at Rs 86,530.51 crore, which is 3.46 percent of the estimated Gross State Domestic Product (GSDP) for the year which is less than the limit fixed in the Fiscal Responsibility and Budget Management (FRBM).

Leave a Reply