Uttar Pradesh Chief Minister Akhilesh Yadav on 12 February 2016 presented the State Budget 2016-17 in legislative assembly. This was Akhilesh’s fifth consecutive budget as he also holds the portfolio of finance department.
The size of the budget is 346935 crore rupees and the Annual Budget for 2016-17 is 14.60 percent more than the Annual Budget for 2015-16.
The budget declares the year 2016-17 for farmers and the youth.
• The Budget has provision of 13842 crore rupees for new development schemes.
• It provides 1336 crore rupees for payment of cane arrear to farmers.
• The Budget estimates receipts of over 340120 crore rupees, including 281555 crore rupees and 58565 crore rupees under revenue and capital heads respectively.
• The revenue receipts comprise 206894 crore rupees as tax revenue share, of which 105637 crore rupees would accrue as UP's share in central taxes.
• It projects expenditure of 346935 crore rupees, including 253355 crore rupees and 93580 crore rupees by way of revenue and capital expenditure respectively.
• The Budget estimates fiscal deficit of 49960 crore rupees during 2016-17, which in absolute terms is 4.04 percent of the gross state domestic product (GSDP).
• The fiscal deficit includes bonds worth 13303 crore rupees issued under the central government's financial reorganisation scheme Ujjwal Discom Assurance Yojna (UDAY). After deducting this amount, the fiscal deficit recedes to about 36658 crore rupees, which is 2.97 percent of the GSDP.
• The Budget estimates revenue surplus at 28200 crore rupees and 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 6814 crore rupees is estimated. Besides, net receipt of 7200 crore rupees is estimated from public account.
• Samajwadi Pension Scheme: It proposed to increase the target of transferring pension in bank accounts of women beneficiaries from 45 lakh to 55 lakh under the Samajwadi Pension Scheme.
• Samajwadi Sarvhit Bima Yojana: It proposed to replace a farmer’s accident insurance scheme with the Samajwadi Sarvhit Bima Yojana wherein the family of the deceased farmer or one who is injured will get 5 lakh rupees as relief. In addition, they will receive 2.5 lakh rupees towards treatment and 1 lakh rupees for artificial limbs, if required. The scheme targets 2.5 crore farmers.
• Samajwadi Youth Employment Scheme: To help youth gain employment, this Scheme has been proposed.
• Samajwadi Yuva Swarozgaar Yojna: It also proposed to introduce to help youth set up own businesses in the small industries sector
• Samagra Gram Vikas Yojna: It announced 630 crore rupees under the Samagra Gram Vikas Yojna for building roads and bridges and 2300 crore rupees for drinking water facilities in villages.
• Bhoomi Sena Yojna: 83 crore rupees has been proposed for Bhoomi Sena Yojna under which uncultivable land is reclaimed and made arable. Also, proposed to distribute 93212 crore rupees in farming loans. 450 crore rupees has been proposed for crop insurance programmes
• Proposal w.r.t Electricity: Proposed to provide 16 hours of uninterrupted electricity in rural areas and 22-24 hours of electricity in urban areas. It also proposed to electrify all villages by October 2016. Electricity availability will be increased from 11000 megawatts (MW) to 21000MW
• Bundelkhand Region: Allocated 1238 crore rupes for drought-hit Bundelkhand, including an outlay of 200 crore rupees for drinking water, 500 crore rupees for surface water and 338 crore rupees for special schemes in the area.
• For Industrial development: It proposed 4003 crore rupees for the construction of Agra-Lucknow Expressway and 1500 crore rupees for the proposed Lucknow-Azamgarh-Ballia Samajwadi Purvanchal Expressway.
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When: 12 February 2016
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