The Uttar Pradesh government on Thursday presented a ₹4.79 lakh crore budget for 2019-20, and announced populist schemes ahead of the upcoming Lok Sabha polls.
The annual budget presented by Finance Minister Rajesh Agarwal in State Assembly is 12% higher than the 2018-19 budget of ₹4,28,384.52 crore.
The budget includes new schemes totalling ₹21,212.95 crore.
Chief Minister Yogi Adityanath was present in the Assembly when the Finance Minister read out the budget speech punctuated with Urdu couplets. This is the third budget of the Adityanath government.
Mr. Agarwal announced a number of new populist schemes, including “Kanya Sumangala Yojana” to raise health and educational standard of girls, brighten their future and bring in a positive change in the thinking towards women.
An amount of ₹1,200 crore has been proposed for the Yojana.
For conservation of bovine cattle, the government has allotted ₹247.60 crore towards maintenance and construction of ‘gaushalas’ in rural areas.
As per the budget estimate for 2019-20, the total receipts would be ₹4,70,684.48 crore. The amount includes ₹3,91,734.40 crore of revenue receipts and ₹78,950.08 crore of capital receipts.
The tax revenue is pegged at ₹2,93,039.17 crore, including ₹1,40,176 crore of the State’s own tax revenue and ₹1,52,863.17 crore of the State’s share in the Central taxes.
The total State expenditure is estimated at ₹4,79,701.10 crore. It includes ₹3,63,957.04 crore of revenue expenditure and ₹1,15,744.06 crore of capital expenditure.
A revenue saving of ₹27,777.36 crore is estimated in the year 2019-20.
The State’s fiscal deficit has been pegged at ₹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 consolidated fund, a deficit of ₹9,016.62 crore has been projected for next fiscal.
Net receipts of ₹9,500 crore is expected from public account. The closing balance for 2019-20 is estimated at ₹8,708.85 crore in which opening balance of ₹8,225.47 crore has been taken into account.
