UP Annual Budget likely to breach Rs 3,00,000 crore

Chief Minister Akhilesh Yadav to present budget today

Uttar Pradesh’s annual budget for 2015-16 is likely to breach Rs 3,00,000 crore and provide allocation for populist and development projects either underway or proposed.

Budgetary allocation towards flagship projects of the ruling Samajwadi Party, such as the Lucknow Metro Rail, Agra-Lucknow Expressway, Samajwadi Pension Scheme, are likely to be made.

The budget size for 2014-15 tabled in the Assembly last year was Rs 2,59,848 crore, 18 per cent higher compared with that of 2013-14. In 2011-12, 2012-13 and 2013-14, the budget was estimated at Rs 1,69,416 crore, Rs 2,00,110 crore and Rs 2,21,201 crore, respectively.

The budget size has consistently grown by 10-18 per cent during recent years and keeping this trend in mind, the size for the coming financial year might cross Rs 3,00,000 crore.

This would be the fourth successive annual budget of Uttar Pradesh Chief Minister Akhilesh Yadav, who also holds the finance portfolio.

In his maiden budget for 2012-13, Yadav had provided allocation for the pre-poll promises of the ruling party — including provision of Rs 2,721 crore for free laptops and tablets to Class X and XII students, Rs 1,100 crore for unemployment allowance, Rs 13,650 crore for 280 new schemes and Rs 1,500 crore for schemes named after party ideologue Ram Manohar Lohia.

After the drubbing in the Lok Sabha 2014 polls, the government realigned its priorities and spurred development projects, especially in infrastructure and energy sectors.

Recently, Yadav had unveiled the Uttar Pradesh Development Agenda 2015-16, which spanned energy, industry, finance, agriculture, human resources development, medical, social, rural development and urban development. Speaking on the occasion, Yadav had said the first two years of his government were focused on fulfilling pre-poll promises made to the people.