UP Chief Minister Akhilesh Yadav presents tax free budget
Uttar Pradesh Chief Minister Akhilesh Yadav presented a budget of a size of Rs 2,74,705 crore for this fiscal, with a proposed deficit of Rs 4,132 crore and no new taxes have been proposed.
Some key observations from UP Budget 2014-15:
- The size of the budget for fiscal 2014-15 is Rs 2,74,705 crore which is a 24% increase from the last year’s level of Rs 2,21,201.19 crore. The budget has a proposed deficit of Rs 4,132 crore.
- As compared to 2013-14, the budgetary provisions of this fiscal are higher by 24%.
- No new taxes.
- No allocation for the ambitious free laptop, kanya vidyadhan and unemployment allowance unlike what the ruling Samajwadi Party had promised in its election manifesto during assembly polls in 2012.
- Emphasis on infrastructural facilities like roads, bridges, irrigation and power sector with a provision of Rs. 49,108 crore, about 82% higher than 2013.
- Rs 2,424 crore for government’s ambitious Samajwadi Pension scheme that targets 40 lakh families, and Rs 7,625 crore for agriculture and associated services, 15% more than 2013.
- Rs 41,538 crore for the Education sector
- Allocation for the medical health and family welfare hiked by 34% to Rs 14,377 crore.
- Provision of Rs 25,522 crore under the head of SC/ST, backward, handicapped and minorities welfare and Rs 50 crore for a scheme of rural road scheme named after the ruling party’s late leader Ram Saran Das.
- Provision of Rs 95 crore for the Lucknow metro project.
- Rs 3,280 crore to be allocated for the six-lane Lucknow-Agra 300 km long expressway.
- Proposal for special schemes in Purvanchal and Bundelkhand worth Rs. 291 and 758 crore respectively.
- Provision of Rs 1,613 crore for old age and kisan pension schemes.
- The state government targets creating 2018 man days for 41 lakh families under the MGNREGA Scheme.
- Provision of Rs 178 crore for adopting the national food security mission scheme,
- Rs 12,400 crore for modernisation of police force and Rs 23,928 crore for improving power set-up.
- Rs 919 crore to be allocated for scholarships to students belonging to minorities, Rs 240 crore for modernisation of arbi-farsi madarsas and Rs 200 crore for construction of boundaries of burial grounds.
- As per the budget, ground work is on for starting up the 11.11 km extension of the metro rail project in Ghaziabad at a cost of Rs 1,838 crore.
Month: Current Affairs - June, 2014