LUCKNOW: Setting a target to make Uttar Pradesh an economy of 1 trillion US dollar, Yogi government presented its fourth and the state's largest-ever annual budget for 2020-21 to the tune of Rs 5.12 trillion (5,12,860 crore 72 lakh) here on Tuesday.
This is almost 6 per cent higher than the previous Annual Budget amounting to Rs 4.79 trillion of 2019-20. Besides, the state government seems to have proceeded on the path of fiscal discipline.
It has managed to restrict fiscal deficit at 2.97 per cent at Rs 53,195 crore – which is within the three per cent of the Gross State Domestic Product (GSDP) as has been mandated under the Fiscal Responsibility and Budget Management (FRBM) Act.
The major thrust of the UP budget has been on infrastructural projects as over Rs 5,400 crore has been allocated for the development of expressway, metro and airport projects.
Rs 2000 crore has been allocated for upcoming Jewar International Airport. Around Rs 92.50 crore has also been provided for the other airports under the regional connectivity scheme.
A total Rs 844 crore have been allocated to different metro rail projects including - Rs 286 crore for Agra metro, Rs 358 crore for Kanpur metro and Rs 200 crore for Gorkahour and other metro projects.
And Rs 2000 crore has been allocated for the proposed 600-km long Ganga Expressway, the longest expressway in the country. It will connect Meerut in western UP to Prayagaraj in the east.
More than Rs 7,400 crore has been provided for different rural road and highway projects under the state public works department (PWD, apart from World Bank and Asian Development Bank (ADB) funded road projects. Similarly, the state has allocated Rs 300 crore and Rs 210 crore for the socio-economic development of the backward regions of Purvanchal (Eastern UP) and Bundelkhand respectively.
For the development of the pilgrim city Ayodhya as a tourist spot, the budget has earmarked Rs 85 crore and another Rs 10 crore for renovation of Tulsi Smarak Bhawan there.
Among other major allocations for Ayodhya, where the construction of a Ram temple is expected to begin in a couple of months, was Rs 500 crore for an airport.
The budget also earmarked Rs 180 crore for setting up a cultural centre in Varanasi and Rs 200 crore for expansion and beautification of Kashi Vishwanath temple.
While the state government has decided to set up a ‘State Niti Ayog’, it has also taken an initiative of setting up ‘Yuva Hub’ across all 75 districts of the state with an allocation of Rs 12,200 crore towards it. Under Yuva Udyamita Vikas Abhiyan, ‘Yuva Hubs’ would make the youth of UP self-reliant.
Under the initiative, the target is to train two lakh youths by identifying their skill under various training programmes of the UP Skill Development Mission.
While the Yogi government has allocated Rs 250 crore for the promotion of the state micro, small and medium enterprises (MSME) under the flagship one district, one product (ODOP) project, it has also set aside Rs 9,000 crore for different water projects, including canals, potable water, water conservation, irrigation etc.
An allocation of Rs 783 crore has been made for the improvement of education and basic infrastructure facilities under the 'Pradhanmantri Jan Vikas Karyakram' in minority-dominated areas.
The Budget also has a separate provision of Rs 479 crore for educational facilities for modern subjects, besides religious education in recognised Madarsas and Maktabs. At the same time, public debt is projected at 28.8 per cent of GSDP.
The government has proposed new schemes worth nearly Rs 11,000 crore.
As per the budget estimate for 2020-21, total receipts of Rs 5,00,558.53 crore are approximated.
This includes Rs 4,22,567.83 crore by way of revenue and Rs 77,990.70 crore by way of capital receipts.
Revenue receipts include Rs 3,18,884.17 crore by way of tax revenue share, which includes Rs 1,66,021 crore by way of the state's own tax revenue and Rs 1,52,863.17 crore by way of the state's share in the central taxes.
Total state expenditure is estimated at Rs 5,12,860.72 crore, which includes Rs 3,95,116.95 crore by way of revenue expenditure and Rs 1,17,743.77 crore by way of capital expenditure.
(With inputs from PTI)