UPPSC Notes: Uttar Pradesh Budget (2022-23) Summary

By BYJU'S Exam Prep

Updated on: September 13th, 2023

Uttar Pradesh Budget (2022-23) Summary: Notes on the Budget of UP is a very important topic for UPPCS Prelims 2023. Many Questions are directly asked from the budget of Uttar Pradesh. In this article, we are providing you with a summary of the UP Budget to help you prepare for the upcoming UPPSC Prelims 2023 exam.

Uttar Pradesh Budget (2022-23) Summary

Under the first budget of the second term of the Yogi government, Finance Minister Suresh Khanna has presented a budget of Rs 6,15,518.97 crore for the financial year 2022-23 in the assembly. This is the biggest budget of the state till date.

Constitutional Provision of Budget for State

  • As per Article 202 of the Constitution of India, the Governor of a State shall cause to be laid before the House or Houses of the Legislature of the State a statement of the estimated receipts and expenditure of the State for a financial year. 
  • This estimated statement of receipt and expenditure for a financial year named in the Constitution as the “Annual Financial Statement” is usually referred to as “Budget”.

Key Terms Used in Budget

Revenue which includes:

  • Revenue Receipt 
  • Revenue Expenditure

Revenue Receipt:

  • The receipts received which can’t be recovered by the government.
  • It comprises income amassed by the Govt. through taxes and non-tax sources like dividends on investments and interest.

Revenue Expenditure:

  • These are the expenditure incurred by the Union Government for purposes other than for the creation of physical or financial assets.
  • It includes those expenditures incurred for the usual functioning of the government departments, grants given to state government includes borrowings from the Reserve Bank of India and commercial banks and other financial institutions.
  • It also consists of loans received from foreign governments and world organization and repayment of loans granted by the Union government.

Capital Expenditure

  • It is the spending incurred by the government which results in the formation of physical or financial possessions of the Union government or decrease in financial liabilities of the Union Government.
  • It will contain expenditure on procuring land, equipment, infrastructure, expenditure in shares.
  • It also includes mortgages by the Union government to Public Sector Undertakings, state and union territories government and interest payments on the debt of the Union Government etc.

Capital which includes 

  • Capital Receipt 
  • Capital Expenditure

Capital Receipt: These are the receipts which generate liability or decrease the financial assets of the government which

Direct Tax: These are the taxes which are imposed directly on individual and company. It comprises

  • Income tax 
  • Corporation tax

Indirect Tax: These are the axes that are imposed on goods and services. It comprises taxes like 

  • Service tax
  • Excise taxes
  • Customs duties

Fiscal Policy: Fiscal policy is the means by which a government adjusts its expenditure levels and tax rates to watch and influence a country’s economy.

Revenue Deficit: It is the extra expenditure of government over revenue receipts.

Fiscal Deficit: It is the difference between the total expenditure of the government and its total receipts, which is not including the borrowing.

Primary Deficit: Primary deficit refers to the difference between the present year’s fiscal deficit and interest payment on previous borrowings.

Non-Tax Revenue: These are the government revenue not generated from taxes.

Gross Domestic Product (GDP):

  • It is the price value of all finished goods and services made within a country during a specific period. 
  • It provides a snapshot of a country, used to estimate the size of an economy and growth rate. 

Highlights of the Budget: 

  • Total receipts for the current financial year are estimated at Rs 5,90,951.71 crore, which includes revenue receipts of Rs 4,99,212.71 crore and capital receipts of Rs 91,739 crore.
  • The share of tax revenue in revenue receipts is Rs 3,67,153.76 crore. This includes its own tax revenue of Rs 2,20,655 crore and the state’s share in central taxes of Rs 1,46,498.76 crore.
  • The fiscal deficit is estimated at Rs 81,177.97 crore which is 3.96 percent of the estimated Gross State Domestic Product.
  • Rs 1 crore has been allocated for the welfare of old priests, saints in the budget, Rs 300 crore has been allocated for educating the children of street vendors.
  • The budget also proposes Rs 897 crore for multi-modal connectivity projects under PM Gati Shakti Yojana and Rs 694.34 crore for the 594-km-long six-lane Ganga Expressway from Meerut to Prayagraj.
  • 75.50 crores has been proposed for the women empowerment scheme in the budget. The state government has proposed to set up cyber help desks for women at the district level.
  • A provision of Rs 20 crore has been proposed in the budget for the safety and empowerment of women and skill development under the Mission Shakti program in the micro and small scale industries.
  • For the farmers, the Uttar Pradesh government has proposed Rs 650 crores under the Kisan Accident Scheme, with a provision of providing a maximum of Rs 5 lakh in case of accidental death/disability under this proposed scheme.
  • The Finance Minister of the state has proposed to install 15,000 solar pumps in the current financial year. Apart from this, a target has also been set to distribute 119.30 lakh metric tonnes of fertilizers in the budget.
  • A proposal of ₹ 1,000 crore has been made for the Chief Minister’s Minor Irrigation Scheme in the budget.
  • The Uttar Pradesh government has set a target of distributing two crore smartphones/tablets to the youth under the party’s ‘Lok Kalyan Sankalp’ letter.
  • Rs1,500 crore has been proposed in the budget for Swami Vivekananda Yuva Adhikari Yojana.
  • To promote entrepreneurship and innovation in various sectors among the youth, the state government aims to set up a total of 100 incubators and 10,000 startups in the next five years.
  • The government has implemented the Abhyudaya scheme in the budget with the aim of providing coaching facilities to the competitive students near their homes.
  • A provision of ₹10 crore has been proposed to provide financial assistance to young lawyers to buy books and magazines for the first three years of work.
  • A provision of Rs 95 crore is also proposed in the budget for the purchase of land for the establishment of an international cricket stadium in Varanasi district.
  • Under the MGNREGA scheme for employment generation, 26 crore man-days have been created in the financial year 2021-22 and a target of creating 32 crore man-days has been set under the scheme in the financial year 2022-23.
  • Under the Mukhyamantri Gramodyog Rozgar Yojana, a target has been set to provide employment to 16,000 people by establishing 800 units in the year 2022-23.
  • 40,402 teachers have been selected in secondary education and 7,540 posts have been created by ending the interview in teacher selection. 

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