Download Uttar Pradesh Budget PDF 2016-17 Highlights

Download Uttar Pradesh Budget PDF 2016-17 Highlights

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Download Uttar Pradesh Budget PDF 2016-17 Highlights

Download Uttar Pradesh Budget PDF 2016-17 Highlights

  • Uttar Pradesh chief minister Akhilesh Yadav tabled his last full Annual Budget of Rs 3,46,935 crore for 2016-17 in the state legislature. Yadav, who also holds the finance department portfolio, presented his fifth consecutive budget.
  • The Annual Budget for 2016-17 is 14.60 percent more than the Annual Budget for 2015-16 amounting to Rs 3,02,687 crore presented on February 24, 2015.
  • The Budget estimates receipts of over Rs 3,40,120 crore, including Rs 2,81,555 crore and Rs 58,565 crore under revenue and capital heads respectively. The revenue receipts comprise Rs 2,06,894 crore as tax revenue share, of which Rs 1,05,637 crore would accrue as UP’s share in central taxes.
  • It projects expenditure of Rs 3,46,935 crore, including Rs 2,53,355 crore and Rs 93,580 crore by way of revenue and capital expenditure respectively.
  • The Budget estimates fiscal deficit of Rs 49,960 crore during 2016-17, which in absolute terms is 4.04 percent of the gross state domestic product (GSDP). However, the fiscal deficit includes bonds worth Rs 13,303 crore issued under the central government’s financial reorganisation scheme Ujjwal Discom Assurance Yojna (UDAY). After deducting this amount, the fiscal deficit recedes to about Rs 36,658 crore, which is 2.97 percent of the GSDP.
  • Meanwhile, Rs 28,200 core is estimated as revenue surplus. The public debt of UP is estimated at 30.30 percent of the GSDP. After deducting total expenditure from receipts of consolidated fund, a deficit of Rs 6,814 crore is estimated. Besides, net receipt of Rs 7,200 crore is estimated from public account.
  • Akhilesh Yadav earmarked Rs 814 crore for Lucknow Metro and Rs 50 crore each for proposed metro rail in Varanasi and Kanpur.
  • Two new government engineering colleges – Devipatan, Basti – and a new medical college in Bijnor district will be set up in the next fiscal. 1200 new skill development centres will also set up.
  • The Chief Minister said that two new greenfield cities – one each in east and west region – will be developed. The new cities will have hi-tech facilities and are aimed at becoming new magnets of growth in the state.
  • CM said the government remains committed to provide atleast 22 hours of electricity in urban areas by October 2016. Rural areas will get atleast 16 hours of electricity.
  • Budget has provision of Rs 13,842 crore for new development schemes. It provides Rs 1,336 crore for payment of cane arrear to farmers. The government targets to distribute crop loan of Rs 93,212 crore for purchase of fertiliser, seed etc.
  • It has provision of Rs 4,003 crore for the construction of Agra-Lucknow Expressway along with Rs 1,500 crore for the proposed Lucknow-Azamgarh-Ballia Samajwadi Purvanchal Expressway.