UP Govt to Propose a MSME Friendly and Development Oriented Budget on Feb 22

As the Uttar Pradesh (UP) revenue collection has taken a sharp jump of Rs 2,796 crore in January 2021, the state has geared up to increase the size of the budget.

While interacting with the media persons on Friday, the state Finance Minister Suresh Khanna said that this January, the total revenue collection jumped by 12,717 crore against Rs 9,921 crore in 2020.

This will be the fifth consecutive budget to be presented in the state assembly by Finance Minister Suresh Khanna and the Yogi Adityanath government. Next year the government will bring the vote on account for the year 2022-23 as the state goes to polls in February, 2022.

''The budget would have more development and welfare measures and the size of the same would not be curtailed, rather it would be increased to ensure developments works, welfare measures and for opening new employment avenues,'' Khanna said.

The budget session of UP assembly is commencing from February 18.

''While handling the COVID-19 pandemic successfully, the policies of the Yogi government also ensured that it had minimal effect on the state's economy during the period,'' he added.

The Minister said the Goods and Services tax (GST) collection in January, 2021 was Rs 4,291 crore as compared to Rs 4,166.63 crore in January, 2020.  Similarly, the value-added tax (VAT) collection in January, 2021 was Rs. 2,235 crore as compared to Rs 1,788 crore in 2020.

The revenue collection of the Excise department increased by Rs 1,778 crore as it was Rs 3,472 crore in January, 2021 as compared to Rs 1,694 crore in 2020.