Akhilesh Yadav presents deficit budget for UP

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Uttar Pradesh chief minister Akhilesh Yadav today presented a Rs 23,913 crore deficit budget for the state for 2013-14 at Rs 2,21,201.19 crore.

The budget tabled in the assembly showed a 10 per cent increase from the last year’s size of Rs 2,00,110.61 crore.

While no new tax has been imposed in the budget, the fiscal deficit has been estimated at Rs 23,913 crore — 2.9 per cent of the gross domestic product (GDP).

The government has estimated revenue receipts at Rs 2,15,919.82 crore and revenue savings at Rs 9,856.01 crore for the next financial year. After deducting from the consolidated fund, the actual deficit would be Rs 5,281.37 crore, Yadav said in his address. After adjusting Rs 3,550 crore from the PLA (personal ledger account), the net deficit is of Rs 1,731.7 crore.

While the opening balance is at Rs 2,957.9 crore, the expected closing balance has been shown at a surplus of Rs 1,226.53 crore. Earlier, the BSP members staged a walk-out from the House.