Parul
The Uttar Pradesh government, led by Chief Minister Yogi Adityanath, unveiled its most substantial annual budget to date, amounting to Rs 7,36,437.71 crore for the fiscal year 2024-25. Finance Minister Suresh Khanna presented the annual budget, which includes new schemes worth Rs 24,863.57 crore, in the State Assembly in the presence of CM Yogi.
The budget focuses on empowerment of women, youth and farmers as well as employment generation in the state.
Breaking down the figures, the budget comprises revenue receipts of Rs 6,06,802.40 crore and capital receipts of Rs 1,14,531.42 crore. Notably, tax revenue contributes significantly, accounting for Rs 4,88,902.84 crore, which includes the state’s own tax revenue of Rs 2,70,086 crore and its share in central taxes at Rs 2,18,816.84 crore.
In terms of expenditures, the proposed allocation for the revenue account stands at Rs 5,32,655.33 crore, while the capital account is allocated Rs 2,03,782.38 crore. The resulting deficit, after deducting total expenditure from the Consolidated Fund, is estimated at Rs 15,103.89 crore.
Additionally, the budget anticipates net receipts of Rs 5,500 crore from the public account. Considering the entire transaction, a negative net result is projected at Rs 9,603.89 crore. With an initial balance of Rs 38,189.66 crore, the final balance is expected to be Rs 28,585.77 crore.
The budget underscores significant revenue savings, estimated at Rs 74,147.07 crore. The fiscal deficit is projected at Rs 86,530.51 crore, constituting 3.46 percent of the estimated gross state domestic product for the year. This comprehensive fiscal plan reflects the government’s strategic approach towards economic development and social welfare in Uttar Pradesh.
