The state government is moving forward under a concrete strategy to accelerate the economy of UP, in which the government is trying to move towards increasing the graph of earnings (revenue receipts) while reducing the gap between expenses and earnings. is in For the first time in the annual budget that will be presented in the year 2025-26, it is predicted that the revenue receipts from all the heads of the state government are likely to exceed the total expenditure (expenditure) this year.
Under the Medium-Term Fiscal Restructuring Policy-2022, the Finance Department has prepared an account of the forecast for the next three years. In which the total receipts of the state government till the year 2024-25 are visible less than the total expenditure, while this picture is expected to change in 2025-26.
Government will get more than 8.34 lakh crore revenue after two years
In the year 2025-26, through the state government’s own tax revenue, share from central taxes, non-tax revenue of the state, grants-in-aid from the central government, recoveries from loans and advances and public loans, a total of 8 lakh 34 thousand will be given to the state government. The income has been calculated to be 415 crore 49 lakh. Relative to this, the total expenditure (expenditure) in which revenue expenditure, capital expenditure, loan and interest and loan and advance, the total expenditure of the government is estimated at Rs 8 lakh 25 thousand 36 crore 74 lakh.
Revenue savings will increase and fiscal deficit will decrease
By the year 2025-26, the revenue savings of the government will almost double by increasing. The revenue saving is now around Rs 43 thousand crore. This amount is estimated to be Rs 92 thousand 686 crore 84 lakh in 2025-26. Since the state government is working towards rapid development in every field, the indebtedness of the state will also increase, the indebtedness has been estimated to be Rs 8 lakh 88 thousand 38 crore 50 lakh.
The fiscal deficit is projected to come down. In the year 2025-26, the fiscal deficit is estimated to be 68301.11 crores, which is estimated to be around 81177.98 crores at present. The primary deficit of the government will go down very fast. The primary deficit, which is around 35 thousand crores at present, will remain only 8746 crores.
Projections of Medium Term Fiscal Restructuring Policy-2022
Year——-Total Receipts——–Total Expenditure——Revenue Savings——Fiscal Deficit——SGDP
2023-24—662546.77—–678490.05—–56625.02——78867.58——–2273540
2024-25—743301.23—–748094.21—–72974.71——74716.42———2523629
2025-26—834415.49—–825036.74—–92686.84——68301.11———2801228
(Rs. in crore)