The CM claimed private investment to the tune of Rs 2.5 trillion had come to the state over the past three years, creating fresh job and self employment opportunities for 3.3 million people.
“Earlier, no investor was willing to come to UP, however, we have changed that perception about the state by providing transparent governance and maintaining law and order,” he added.
He said UP Annual Budget 2020-21 had burgeoned to more than Rs 5.12 trillion, thus providing ample scope of funding all the key sectors of the economy, including agriculture, infrastructure, industrial development, skill development, health, education etc.
“In 1947, UP’s per capital income was higher than the national
average, but during the successive 70 years, it continued to decline and today it is a little higher than the national
average per capital income,’ Adityanath
said while seeking answers from the opposition parties.
Meanwhile, the CM said his government had expanded the revenues resources by plugging leakages and curbing corruption.
“When our government came to power in March 2017, the tax (Value Added Tax) revenue of the state was Rs 51,882 crore. Now under the Goods and Services Tax (GST), the state tax kitty is estimated to touch Rs 91,000 crore in 2020-21,” he said.
He mentioned similar higher tax and revenue collection in the state departments of stamp and registration, excise, road, electricity duty, mining etc without imposing any new tax on the people.
“We have followed the fiscal discipline and kept fiscal deficit below the 3 per cent mark at 2.97 per cent under the Fiscal Responsibility and Budget Management (FRBM) Act,” Adityanath said.
The CM underlined the Annual Budget 2020-21 would give a major push to the state’s ambitious target of becoming a $trillion economy by 2024 and contributing to Prime Minister Narendra Modi’s vision of India hitting the $5 trillion economy mark.
He informed the Budget had made adequate allocations to boost the focus sector and attract greater private investment by ramping up the basic infra in the state, including roads, airports, expressways etc.
Further, he claimed the state sugarcane farmers had been paid Rs 89,000 crore during the past three years.