You are here: Home » Economy & Policy » News
Business Standard

Yogi govt to table Supplementary Budget on Monday

Annual Budget size to swell within sniffing distance of Rs 4,00,000 cr

Virendra Singh Rawat  |  Lucknow 

Yogi
Uttar Pradesh Chief Minister Yogi Adityanath with State Urban Development Minister Suresh Khanna at a press conference at Vidhan Bhawan in Lucknow (Photo: PTI)

The government would present its first in the Uttar Pradesh legislature on Monday seeking additional funds for the proposed flagship and infrastructure projects in the state. Although, the size of the Budget is still under wraps, it is likely to be above Rs 10,000 crore, which would peg the UP Budget size within the sniffing distance of Rs 4,00,000 crore, since the state government had on July 11, 2017 tabled Annual Budget of over Rs 3,84,000 core. is tabled to get the legislature approval for meeting additional expenses during the course of the financial year over ongoing or proposed projects. The current winter session of UP legislature had started yesterday and would continue till December 22. According to sources, the Yogi government would seek funds for the proposed Purvanchal Expressway, the work on which is likely to start in the coming weeks. Besides, funds would be sought for other infrastructure projects, mainly roads. The first two days of the UP assembly had witnessed acrimonious scenes inside the two houses of legislature with the opposition members cornering the Yogi government over issues of hiked power tariffs, alleged deteriorating law and order etc. The Annual Budget of the incumbent Yogi government had managed to keep the fiscal deficit below the stipulated 3% even as the Annual Budget had grown by almost 11% to Rs 3,84,659 core. It was a feat considering the flagship crop waiver scheme accounting for Rs 36,000 crore coupled with massive outgo towards additional expenses of the 7th Pay Commission. “We are targetting to clock double digit growth rate in UP and stand among the developed states of the country.

This Budget stresses upon villages, poor and farmers of the state,” Yogi had said after UP finance minister had tabled the budget in the state assembly in July. He had also claimed that despite high ticket expenditure towards development projects and pre-poll promises, the state government had managed to keep fiscal deficit below 3% at 2.97%. The budget had made provision of Rs 55,781 crore for development schemes. Several of the previous schemes of the erstwhile Akhilesh Yadav regime had either been discontinued or re-branded. In fact, Yadav, who also held the finance minister portfolio in the previous Samajwadi Party regime, had also tamed UP fiscal deficit under 3% at 2.96% in his maiden budget presented on June 1, 2012.

First Published: Fri, December 15 2017. 23:19 IST
RECOMMENDED FOR YOU