UP's 3rd adjunct budget likely on Nov 10

In an unprecedented move, the UP government is set to introduce the third supplementary budget for 2006-07. This will be for the first time that the state government will seek approval to supplementary grants twice in one session of the assembly.

Chief Minister Mulayam Singh Yadav, speaking to the media after the cabinet meeting here yesterday, said the government would seek the third supplementary from the assembly soon. Defending the government's action he said, "This action of the government proves that development is under way in the state."

Yadav also said the state advisory price (SAP) for sugarcane for 2006-07 would be announced very soon.

The ongoing session of the assembly began on August 21. The government introduced the second supplementary of 2006-07 of Rs 2,883 crore on September 21 and the third is likely to be introduced on November 10.

The regular budget for 2006-07 of Rs 82,850 crore was passed by the state legislature in February. Yet in the second month of the current fiscal, the state government sought approval for the first supplementary budget in May. It was of Rs 1,631 crore.

Moreover, as the assembly elections are scheduled before May next year, the state government will seek a vote on account for the first six months of 2007-08.

The Bill for this is likely to be introduced in February. Finance department sources said the supplementary grants would have no bearing on the overall fiscal situation of the state.