Yogi Adityanath government will table its second Supplementary Budget for the current 2019-20 financial year on the maiden day of the Winter Session of the Uttar Pradesh legislature on Tuesday.
On February 7 and July 23, 2019, the government had tabled Annual Budget and 1st Supplementary Budget for 2019-20 financial year totalling Rs 4.79 trillion and Rs 13,595 crore respectively.
Therefore, the total UP Budget, comprising Annual Budget and 1st Supplementary Budget, has already touched Rs 4.92 trillion. With the second Supplementary Budget to be tabled on Tuesday, the UP Budget is likely to breach the historic Rs 5 trillion mark.
Supplementary Budget is tabled for getting legislative approval for meeting additional expenses during the course of financial year for ongoing or new projects.
In backdrop of the state working on a string of infrastructure projects, including expressways and airports, the second Supplementary Budget is expected to provide liberal allocation to projects, some of which are under construction, such as Purvanchal Expressway and Kanpur Metro Rail.
With UP envisioning to becoming a $1 trillion economy by 2024 and the state joining hands with the Indian Institute of Management, Lucknow (IIM-L) for the financial and projects management training of ministers and bureaucrats, the second Supplementary Budget is likely to reflect key suggestions forwarded by the B-school to boost the state infrastructure and industrial sectors.
Meanwhile, the Winter Session will have four sittings with the Supplementary Budget to be tabled on the first day and the following days to be spend on discussions and seeking the legislative approval to the state financial statement.
The first Supplementary UP Budget, tabled in July, had allocated funds for new and ongoing projects in different sectors viz. industrial development, energy, tourism, social welfare, public works department (PWD), vocational education, heath etc.
While, the industries department was given Rs 2,000 crore for the flagship expressway projects, including Bundelkhand and Purvanchal expressways, Rs 15 crore was provided for the proposed detailed project report (DPR) of Ganga Expressway, which is estimated to cost Rs 36,000 crore and touted as the world’s longest access control expressway when completed.
Rs 175 crore was allocated for 7 cities in UP viz. Meerut, Ghaziabad, Ayodhya, Firozabad, Gorakhpur, Mathura and Shahjahanpur for their development as Smart Cities, besides Rs 20 crore was given for the modernisation of registered Islamic theological institutions or madarsas.
In Annual Budget 2019-20, tabled in February, the state had tamed fiscal deficit at Rs 46,910 crore or 2.97%, within the mandated 3% of the Gross State Domestic Product (GSDP) under the Fiscal Responsibility and Budget Management (FRBM) Act.
The state had estimated revenue receipt of Rs 77,640 crore from State Goods & Services Tax (SGST) and Value Added Tax (VAT). The excise duty kitty in 2019-20 is expected at Rs 31,517 crore.