No new taxes in UP annual budget | business | Hindustan Times
Today in New Delhi, India
Jul 21, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

No new taxes in UP annual budget

No new taxes have been imposed in the otherwise deficit annual budget that provides for a hike in the allocations for weaker sections and education sector along with making special allocations for maintenance of Chief Minister Mayawati's dream project- the memorial and parks in Lucknow.

business Updated: Feb 08, 2011 18:18 IST
HT Correspondent

No new taxes have been imposed in the otherwise deficit annual budget that provides for a hike in the allocations for weaker sections and education sector along with making special allocations for maintenance of Chief Minister Mayawati's dream project- the memorial and parks in Lucknow.

Minister for Finance Lalji Verma announced 173 new schemes involving an expenditure of Rs 5153 crore in the budget for 2011-2012 he presented in assembly at 11 AM.

As this will be last budget of Mayawati government before the 2012 assembly elections the focus of budget apparently remained on dalit welfare schemes amidst assertions that Mayawati government is pursuing 'sarvjan hitay sarv jan sukhay' polices for development of all sections.

After referring to the construction of memorials and parks, creation of districts and setting up of university etc. in the name of dalit icons Verma said a sum of Rs 9722 crore (6.8 % up) had been allocated under the Special Component Plan while a sum of 10084 crore (15.8 % up) for welfare schemes for weaker sections.

Various other announcements made by Verma in his 52-page budgetary address include allocation of Rs 28078 crore for education sector reflecting a hike of nearly 22 %. He said a sum of Rs 122 crore had been allocated for maintenance of memorials and parks and Rs 564 crore for the all round development of Lucknow.

Verma said a sum of Rs 1267 crore was being given to power sector schemes to increase power generation. A sum of Rs 1206 crore had been allocated for strengthening and broadening of various roads, he said, Verma used the occasion to target the Centre saying the Union Government had not accepted the demand for a special package for the development of the state. He also blamed the Centre for the rising inflation saying the prices of food items were going up due to wrong and anti farmer policies of the union government. He criticised the Centre again for not amending the list of Below Poverty Line (BPL) families despite request from the State Government.

Verma painted a rosy picture of state's finances saying the state's growth rate in 2009-2010 had gone up to 7.2 %. The per capita income was likely to go up to Rs 23132 in 2009-2010, he said. The State Government had formulated an annual plan outlay of Rs 45000 crore for 2011-2012 though the Planning Commission of India was yet to approve it, he said, adding, the annual budget had shown a revenue saving of Rs 5635.04 crore in 2011-2012.

As per the budgetary estimates the State Government is likely to get total receipts to the tune of Rs 166012.86 crore against the total estimated expenditure of Rs 169416.34 crore in 2011-2012. This leaves a deficit of Rs 3403.52 crore on the consolidated fund. The State Government however proposes to adjust Rs 3900.25 crore from the public account, After making the adjustment the net result of all transaction comes to Rs 496.73 crore. The State Government hopes to get an opening balance of Rs 751.10 crore on April 1, 2011. This will leave it with a closing balance of Rs 1247.83 crore in 2011-2012.