Uttar pradesh:Economy updates
Gross State Domestic Product (GSDP)
The Gross State Domestic Product (GSDP) of Uttar Pradesh for 2019-20 at current prices is estimated to be Rs 15,79,807 crore, which is 7% higher than the revised estimate for 2018-19.
Total receipts
Total receipts (excluding borrowings) for 2019-20 are estimated to be Rs 3,97,416 crore, an increase of 3.2% as compared to the revised estimate of 2018-19. In 2018-19, total receipts (excluding borrowings) is estimated to be higher than the budgeted estimate by Rs 31,402 crore (8.9%). Budget 2019, (Govt.of uttar pradesh)
Total expenditure
Total expenditure for 2019-20 is estimated to be Rs 4,79,701 crore, a 6.7% increase over the revised estimate of 2018-19. In 2018-19, as per the revised estimate, there is estimated to be an increase of Rs 21,189 crore (4.9%) of expenditure over the budgeted estimate.
Rural development
Rs 6,240 crore has been allocated towards Pradhan Mantri Awas Yojana – Rural. Rs 3,488 crore has been allocated under the National Rural Livelihood Mission. Rs 2,954 crore has been allocated towards the National Rural Drinking Water Mission.
Woman and child development
A new scheme, Kanya Sumangala Yojana has been announced to improve the health and education levels of girls. Rs 1,200 crore has been allocated towards it.
Education
Rs 500 crore has been allocated towards improving infrastructure in primary and higher primary schools. Rs 272 crore has been allocated towards Sanskrit medium schools. Rs 4,433 crore has been allocated towards scholarships for students belonging to poor sections of society.
Revenue deficit
It is the excess of revenue expenditure over revenue receipts. A revenue deficit implies that the government needs to borrow in order to finance its expenses which do not create capital assets.
The budget estimates a revenue surplus of Rs 27,777 crore (or 1.76% of GSDP) in 2019-20. A revenue surplus implies that the revenue of states is sufficient to meet their expenditure requirements in a given year. The estimate indicates that the state has eliminated revenue deficit, as prescribed by the 14th Finance Commission. The state has estimated a revenue surplus for the years 2020-21 and 2021-22.
Fiscal deficit
It is the excess of total expenditure over total receipts. This gap is filled by borrowings by the state government, and leads to an increase in total liabilities. In 2019-20, fiscal deficit is estimated to be Rs 46,911 crore, which is 2.97% of the GSDP. The estimate is under the 3% limit prescribed by the 14th Finance Commission. Fiscal deficit in 2017-18, at 2.02% of GSDP was under this 3% limit. ( Budget 2019, govt.of uttar pradesh)
GST Revenue
Uttar Pradesh’s total GST revenue (including central transfers) is estimated to be Rs 1,10,072 crore in 2019-20, an increase of 3% over the revised estimate of 2018-19. This is estimated to form 28% of the state’s revenue receipts. GST revenue also includes Integrated GST, which is estimated to be Rs 4,703 crore in 2019-20. (Budget 2019)
Tax Revenue
Total own tax revenue of Uttar Pradesh is estimated to be Rs 1,40,176 crore in 2019-20 (36% of its revenue receipts). This is 4.4% higher than the revised estimate of 2018-19.
Food grain production
Uttar Pradesh is the largest producer of food grains in India and accounted for about 17.83 per cent share in the country’s total food grain output in 2016-17. Food grain production in the state in 2016-17 stood at 49,903.1 thousand tonnes and 51,252.7 thousand tonnes in 2017-18. Major food grains produced in the state include rice, wheat, maize, millet (bajra), gram, pea and lentils.
Allocation for railway
As per state budget 2018-19, Uttar Pradesh government has increased its railway budget compared to previous year to Rs 36,000 crore for development of several projects such as re-development of Charbagh railway station, Lucknow Junction and Gomti Nagar stations , over bridge at Malhaur and development of passenger amenities at Alamnagar station.
Power generation capacity
Uttar Pradesh had a total installed power generation capacity of 25,072.25 megawatt (MW) as of February 2019. Power generation in the state for 2018-19 reached 122,730.05 GWH. The state’s energy requirement was 108,347 million units (MU) between Apr-Dec 2018.
As per state budget 2018-19, Rs 29,883 crore has been allocated to power sector schemes.
Housing
As per state budget 2018-19, a total amount of Rs 11,500.00 crore has been allocated to ‘Pradhan Mantri Awas Yojna’ and around Rs 200.00 crore allotted ‘Mukhya Mantri Awas Yojna’.
Drinking water
An allocation of Rs 1,500.00 crore for National Rural Drinking Water programme and Rs 120.00 crore for State Rural Drinking Water Programme has been made.
Special economic zones (SEZ)
As of June 2017, Uttar Pradesh had 56 SEZs; of which, twelve were operational, nineteen were notified, twenty four were formally approved and one was approved in-principle.
The state government sanctioned 20 SEZs in the state to accommodate various sectors such as IT/ITeS, textiles, handicrafts, and non-conventional energy. IT/ITeS accounted for the maximum share of approved SEZs in the state which accounted for 80% of the 20 SEZs, followed by electronic products contributing 18% to the overall share ( Budget 2018-19, Uttar pradesh).
Smart Cities Mission
Under the Smart Cities Mission launched by the central government in Uttar Pradesh, 13 cities were proposed to be developed as smart cities. In August 2015, 12 cities were shortlisted to be developed as smart cities, namely – Kanpur, Lucknow, Allahabad, Jhansi, Moradabad, Aligarh, Saharanpur, Bareilly, Varanasi, Ghaziabad Agra and Rampur. Out of these, 7 cities have been included by the central government, until the third round of the mission. In the fourth round released in January 2018, 3 new cities have been chosen, namely, Bareilly, Moradabad and Saharanpur.
Uttar Pradesh Civil Aviation Promotion Policy 2017
To create a conducive business environment, provide adequate incentives for the development of robust civil aviation infrastructure and to aid in attracting investments to realize the untapped potential in the aviation sector.
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