UP Budget 2023: Uttar Pradesh govt presents Rs 7 lakh crore budget for FY24

The budget for the fiscal year 2023–2024 was unveiled by the Uttar Pradesh government on Wednesday. It includes new programmes totaling Rs 32,721.96 crore.

According to Uttar Pradesh's Finance Minister Suresh Kumar Khanna, the overall receipt is expected to be Rs 6,83,292.74 crore, which consists of Rs 5,70,865.66 crore in revenue receipts and Rs 11,247.08 crore in capital receipts.

The state's portion of federal taxes, which totals Rs 1,83,237.59 crore, as well as its own tax collection of Rs 2,62,634 crore, totals Rs 44,58,71.59 crore.

The estimated total cost is Rs 6,90,242.43 crore. The Revenue Account receives Rs. 5,02,354.01 and the Capital Account receives Rs. 1,87,888.42 of this total.

After deducting the total expenditure from the receipts of the Consolidated Fund, a deficit of Rs 6,949.69 crore is estimated.

According to Khanna, public accounts are expected to show net receipts of Rs 5,500 crore.

It is expected that all transactions will result in a net loss of (-) Rs. 1,449.69 crore.

The closing balance is predicted to be Rs 35,957.42 crore when the opening balance of Rs 37,407.11 crore is taken into account.

According to the minister, a savings in revenue of Rs 68,511.65 crore is anticipated.

Estimated at Rs 84,883.16 billion, or 3.48 percent of the anticipated Gross State Domestic Product, the budget deficit.

With inputs from Agencies.