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U.P. government says it has maintained financial discipline, cut wasteful expenditure
Uttar Pradesh government realises ₹59,251 crore revenue from April to July and registers an increase of ₹1,318.97 crore in July
The Uttar Pradsh (U.P.) government on Thursday claimed a consistent increase in its revenue collections, stating that financial discipline and curtailment of wasteful expenditure have brought about an improvement in the financial situation in Uttar Pradesh.
“The Uttar Pradesh government has maintained financial discipline and curtailed wasteful expenditure. We are seeing consistent increase in revenue collections, too. This has led to consistent improvement in the state’s financial situation,” minister for finance Suresh Khanna said, briefing the media about the state government’s revenue collections up to July 31, 2022.
Suresh Khanna said the state government collected tax revenue of ₹55,552.75 crore in the first four months (April 1 to July 31, 2022). This is 72.7% of the target of ₹76,456.92 crore set for the period.
Also, the state government’s tax revenue collections are nearly 25.2% of the annual target of ₹2,20,655.00 crore for 2022-23. Its non-tax revenue collections were ₹3698.68 crore, about 50% percent of the target of ₹7392.51 crore and 15.8% of the annual target of ₹23,406.48 crore for 2022-23.
The state government’s total revenue collections in the first four months of 2022-2023 remained ₹59,251.43 crore. The total collections were 70.66% of the target of ₹83,849.43 crore for the period and 24.27% of the annual target of ₹24,4061.48 crore.
As far as collections for July (2022-23) are concerned, he said the state government earned revenue of ₹13,974.82 crore against ₹12,655.85 crore earned during the same month in 2021-2022. He said this led to an increase of ₹1,318.97 crore this month.
“This is a good sign that there has been a consistent increase in the revenues for the past four months. It is also significant that the non-tax revenue is also showing an upward trend. However, the total revenue still falls short of the target fixed for the period. Therefore, the state government should make extra efforts to mobilise more revenue in the rest of the financial year,” said Professor Yashvir Tyagi, former head of the department of economics at Lucknow University.
