Apparently with an eye on the state assembly elections due next year, the Uttar Pradesh government on Tuesday presented a deficit budget of Rs. 16,9416.38 crore (Rs. 1,694.16 billion) for the financial year 2011-12.
"The budget size for the financial year is Rs. 16, 9416.38 crore (Rs. 1,694.16 billion) is 10.6 per cent higher than the current fiscal," Finance and Parliamentary Minister Lalji Varma told the assembly while presenting the budget.
He said a provision of Rs. 5,153 crore (Rs. 51.53 billion) has been made for meeting fresh expenditure demand.
The minister estimated the total receipts in the next fiscal would touch Rs. 1,66.012. crore (Rs. 1,660.12 bilion), which include Rs. 1,31,428 crore (Rs. 1,314.28 billion) of revenue and Rs. 34,584 crore (Rs. 345.84 billion) in the form of capital receipts.
Against total receipts, an expenditure of Rs. 1,69,416 crore (Rs. 1,694.16) is estimated, he said.
"After deducting total receipts from the total expenditure, a net loss of Rs. 3,403.52 crore (Rs. 3,403.52 billion) is estimated in the next fiscal," said Varma.
He said to meet the loss; Rs. 3,900.25 crore (Rs. 3,900.25) will be adjusted from the public account.
In a bid to woo its traditional voters, the government has made a provision of Rs. 9,722 crore (Rs. 97.22 billion) for the scheduled caste under special component plan, which is 6.8 per cent higher than those allotted for the current fiscal.
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Apparently with an eye on the state assembly elections due next year, the Uttar Pradesh government on Tuesday presented a deficit budget of Rs. 16,9416.38 crore (Rs. 1,694.16 billion) for the financial year 2011-12.