UP tax, non-tax revenue hit by demonetisation: Akhilesh Yadav

State's revenue resources to take a hit, revenue targets unlikely to be met in current fiscal

Uttar Pradesh chief minister Akhilesh Yadav has said the state's tax and non-tax revenues would be hit due to demonetisation exercise, which had scrapped the high value currency notes from circulation in the country.

Yadav underlined since UP was primarily a consumer state, its revenue resources would certainly bear the brunt of demonetisation and consequently its revenue targets were unlikely to be met in the current fiscal. However, he did quantify the revenue loss.

In a letter to union finance minister Arun Jaitley, the CM said the state's economic activities were adversely impacted by demonetisation and its growth rate would also fall