State govt steps up budget preparations

Departments asked to submit by Nov 30 the contents to be incorporated in budget speech

THE STATE BUDGET PREPARATION MAY PROVE TO BE A CRUCIAL EXERCISE IN THE RUN-UP TO THE LOK SABHA ELECTIONS DUE IN EARLY 2024.

LUCKNOW: The Uttar Pradesh government has stepped up preparations for presenting the state’s annual budget for 2023-24 in the state legislature early next year.

It has asked various departments to provide by November 30, 2022, the contents to be incorporated in the budget speech of finance minister Suresh Khanna.

The state budget preparation may prove to be a crucial exercise in the run-up to the Lok Sabha elections due in early 2024.

The government had earlier asked departments to have a look at the thrift measures while sending their budget proposals (by November 30, 2022).

“Budget speech should make a mention about the state government’s commitment, priorities, outlines of action plan for development and schemes for public welfare along with programmes to supplement them and details of new schemes. Contents, in a page or two, from all sections of different departments should be sent with approval of the respective additional chief secretary, principal secretary and secretary,” said additional chief secretary (finance) Prashant Trivedi in a letter dated November 17 sent to all the departments.

Trivedi further said, “Departments are often expected to send additional information at the last minute when final touches are given to the budget. So, kindly nominate a coordination officer of not less than special secretary rank from your department for this purpose….. The contents signed by you for budget speech should be forwarded (in three copies) to finance department by November 30.”

The state government will have to strike a balance between populist announcements for the Lok Sabha elections and the thrift measures. It will have nearly a year to implement the announcements that may be made by the finance minister. Broad guidelines have been sent to departments while asking them for the likely contents.

A consultant has submitted a draft road map to make the state a trillion dollar economy in five years. The state government may have to incorporate some of the points of the final road map to be worked out in the next few weeks to achieve the trillion-dollar objective.

The state government is also stepping up preparations for presenting the first supplementary budget for 2022-23 in the state legislature during its winter session commencing from December 5, 2022.

The state government proposes to seek the state legislature’s approval to the supplementary budget to provide additional funds for some ongoing schemes. It may also seek approval for getting funds for the Global Investors Summit2023 proposed to be organised in Lucknow from February 10 to 12, 2023.