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UP: Akhilesh Yadav presents deficit Budget

Fiscal deficit pegged at 2.94% of GSDP

Virendra Singh Rawat Lucknow
Amid charges of 50 per cent funds sanctioned in the previous Budget lying unutilised in Uttar Pradesh, Chief Minister Akhilesh Yadav on Tuesday presented a Rs 23,913-crore deficit budget for 2013-14 at Rs 2,21,201.19 crore.

During 2011-12 and 2012-13, the Budget size was Rs 1,69,416 crore and Rs 2,00,110 crore, respectively.

The main opposition, the Bahujan Samaj Party, staged a walkout even as Yadav, who also holds the finance portfolio, presented the Budget in the Assembly.

The fiscal deficit has been projected at Rs 23,913 crore, which is 2.94 per cent of the gross state domestic product (GSDP), estimated at Rs 8,12,101 crore (current prices). In the earlier Budget, the fiscal deficit was 2.96 per cent.

Talking to reporters, the CM said his government had attempted to extend benefits to all sections of the society and fulfil promises made by his Samajwadi Party (SP).

He said as the earlier Budget was passed in July 2012, the state government had only 7-8 months to utilise allocations. Besides, central funds were not received in full.

The annual financial statement has projected total receipts of Rs 2,15,920 crore during 2013-14, comprising Rs 1,77,748 crore and Rs 38,172 crore of revenue and capital receipts, respectively.

The total expenditure of Rs 2,21,201 crore includes Rs 1,67,892 crore and Rs 53,309 crore in the shape of revenue and capital expenditure, respectively.

A plan expenditure of Rs 67,016 crore has been estimated.

The share of tax revenue in revenue receipts will be Rs 1,40,651 crore for 2013-14, including the state share of Rs 68,458 crore in central taxes. The proposals estimate revenue savings of Rs 9,856 crore during 2013-14.

The state has not proposed new taxes, but adjusted Rs 3,550 crore from the public account to meet the deficit of consolidated fund.

The negative net result of Rs 1,731 crore has been derived from all transaction estimated for 2013-14, while the opening and closing balances are estimated at Rs 2,958 crore and Rs 1,226 crore, respectively.

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First Published: Feb 20 2013 | 12:28 AM IST

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