UP: bill of Rs 12,000 crore, revenue of Rs 2 billion in April
LUCKNOW: Although the Yogi government has sanctioned the salaries of 16 lakh of employees and 12 lakh of pensioners on the first day of May, your income in April would force you to seek more means to generate income.
The monthly salary and pension bill of the state staff is around Rs 12,500 crore, but in April, which saw a complete blockage of economic activities at a standstill, the state earned a negligible income of Rs 2,284 million rupees only. To pay the Rs 12.5 billion wage bill, the government has paid Rs 10 billion of its resources.
This unprecedented situation in the history of the state has emerged as two of its main sources of income, GST and excise duty, remained dry. The state earns approximately Rs 5000 crore from GST and Rs 3,000 crore from excise duty every month.
It is shocking, but the state cannot compromise people's lives, the finance minister told TOI.
The prime minister has already issued directives to establish a special committee to prepare a roadmap to increase state revenue.
Although he maintained that UP was among the few states that have not reduced or delayed salary payments to its employees, the additional chief secretary, the household and the information, said that to overcome the difficult financial situation, the department of housing that accelerates the process of free tenure and capitalization, so that he obtained additional income to replace the treasure.
Economist Yashveer Tyagi, on the other hand, suggested that the government should prepare to face the financial crisis in this financial year to obtain larger market loans. The RBI must be liberal in granting permission in this regard, he added.
The government had targeted Rs 12,141 million in tax revenue in April. But he received only Rs 2,012 crore. The target was Rs 1,512 million, but it only registered Rs 282 million.
The total revenue collection had been in April about Rs 2.284 crore, while he had to sanction Rs.
The target for excise revenue was Rs 3,560 crore while it received only Rs 41.96 crore, or 1.2% of the total target. In stamp and registration, against the target of Rs 1686 crore, the state got only Rs 15 crore which is 0.9%, Similarly in GST, the revenue target for April was Rs 4,930 crore, but the state received only Rs 1448 crore, or 29.4 % of the target.
The state government has already deducted the salaries and assignments of ministers and MLA, frozen its development funds, and increased DA from state personnel.
The state's participation in the core group will also decrease as core tax revenues decrease.