UP Budget pegs deficit at ~440 bn
The Uttar Pradesh Budget for 2018-19 has projected total receipts of ~4.2 trillion in the next financial year, leading to a deficit of ~440 billion, or 2.96 per cent of the state’s gross domestic product (GDP).
Total receipts include ~3.48 trillion by way of revenue receipts and ~723 billion by way of capital receipts, according to the Budget documents presented in the Assembly on Friday. The revenue receipts include ~2.6 trillion by way of tax revenue share, including ~1.22 trillion by way of the states own and ~1.33 trillion by way of the state’s share in the central taxes.
Total state expenditure is estimated at ~4.27 trillion, which includes ~3.21 trillion by way of revenue expenditure and ~1.06 trillion by way of capital expenditure.
A revenue saving of ~270 billion is estimated in 2018-19.
The fiscal deficit of ~440 billion is estimated in the financial year 2018-19, which is 2.96 per cent of the state’s GDP.
The states debt liability is estimated to be 29.8 per cent of the state’s GDP.
After deducting total expenditure from the receipts of consolidated fund, a deficit of ~74.6 billion is estimated. Net receipts of ~81 billion were estimated from public account. Net result of ~6 billion from all the transaction in 2018-19.