The Yogi Adityanath government on Monday tabled its last annual Budget (2021-22) of more than Rs 5.5 trillion while announcing a mega social security scheme for about 20 million organised and unorganised workers and labourers in Uttar Pradesh.
The Budget, tabled by UP Finance Minister Suresh Khanna, projected total expenditure of Rs 5.5 trillion, comprising about Rs 3.95 trillion and Rs 1.55 trillion under revenue and capital expenditure heads, respectively.
The government has estimated receipts of a little more than Rs 5.06 trillion consisting of Rs 4.18 trillion and Rs 87,841 crore as revenue and capital receipts, respectively, in FY22.
Chief Minister Adityanath said the Budget was aimed at ushering in composite development and self-reliance of the state. UP assembly elections are due in early 2022.
Even in the testing times of the Covid-19 pandemic that impacted revenue collection, the state has managed to pursue the path of fiscal discipline and rein in fiscal deficit at 4.17 per cent. This is under the Financial Responsibility and Budget Management (FRBM) Act that mandates it to be below 4.5 per cent, he said.
The proposed Maryada Purushottam Shriram Airport in Ayodhya has been provided with Rs 101 crore for ongoing civil works.
Meanwhile, the state is targetting foodgrain production of 64.4 million tonnes (MT) and oil seeds production of 1.3 MT in 2021-22.
We will revive all the defunct state spinning mills under the public-private partnership (PPP) and an action plan is being formulated, added the chief minister.
Fiscal deficit is estimated at Rs 90,729 crore, which is 4.17 per cent of the gross state domestic product (GSDP), while public debt is estimated at 28.1 per cent.