Lucknow: In the coming year, more than half the earning of the Yogi government of UP is going to be spent on the payment of salary, pension, and interest. Where the total revenue receipts of the government are estimated to be Rs 4,22,567.83 crore in the financial year 2020-21. It is also being said that a total of Rs 2,24,561.03 crore is expected to be spent on payment of salary, pension, and interest. It is evident that 53.1 percent of revenue receipts will be spent on salary, pension, and interest. This picture has been revealed by the state government in the budget presented on Tuesday, February 18, 2020 for the financial year 2020-21.
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The government had estimated to spend Rs 2,06,287.55 crore in the current financial year in respect of salary, pension, and interest. However, it has come down to Rs 1,97,678.18 crore in the revised estimate. In such a situation, 26,882.85 crores more will be spent on the payment of salary, pension, and interest next year than in the current financial year. Despite the increase in expenditure on salary, pension, and interest payments, the government has shown the courage to increase the capital outlay. It is also being said that capital outlay means expenditure on increasing assets. In the next financial year, Rs 81,209.49 crore is estimated to be spent on capital outlay whereas, in the previous budget, Rs 77,641.13 crore was allocated for it.
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The state government has suffered a setback this year on the front of raising tax revenue from its sources. It has also been said that the government had plans to raise Rs 1,40,176 crore through its own tax revenue in the current financial year but according to the revised estimates of the budget for the financial year 2020-21 presented on Tuesday. Only 1,34,038.94 crores came. In this context, the state's own tax revenue is estimated to be reduced by Rs 6137 crore. Despite this shortage, the government has shown the courage to raise Rs 1,66,021 crore in the next financial year through its own tax revenue. Despite this, the pressure on the government to take loans from the market has increased.
