As Financial Year Draws To A Close, U.P. govt expedites allocation of funds for development projects
Several departments of the state government were not able to use even 50% of funds in the first three quarters of 2022-2023.
Lucknow Ahead of the closing of the ongoing financial year (on March 31, 2023), the Uttar Pradesh government has asked all its departments to expedite the release of sanctions and allocation of funds for development projects to ensure its maximum use.
“Yes, we have asked various departments to ensure allocation/release of funds for all the development projects at the earliest to ensure that the work is undertaken expeditiously,” said Suresh Khanna, state finance minister, while speaking to HT over the phone.
Both chief minister Yogi Adityanath and Khanna have consistently issued directives to departments in this regard. Efforts have also been made to release funds by the state government’s departments for all centrally-sponsored schemes to ensure that Centre’s funds are disbursed before March 31, the end date of the financial year.
Notably, several departments of the state government were not able to use even 50% of funds in the first three quarters of 2022-2023. The departments that were not been able to use funds up to satisfactory levels included -- the PWD (for buildings and roads etc), medical and medical education, vocational education, social welfare, women welfare, tourism, and environment etc.
Earlier, on May 26, 2022, the state government had presented an annual Budget worth ₹6.15 lakh crore for 2022-2023 in the state legislature. Later, it presented a supplementary budget of ₹33,769.55 crore on December 5, 2022, thereby, taking the total size of the Budget to ₹6.5 lakh crore. The state’s own estimates for expenditure indicate that it may be able to spend only ₹5.85 lakh crore of the 2022-2023 Budget.
The state finance department has already issued a timeline to the treasuries to avoid a last-minute rush in view of the closing of the financial year on March 31. It has asked all departments to release the financial sanctions by March 15. Similarly, allocations should reach the drawing and disbursing officers by March 20. The drawing and disbursing officers have been asked to present the bills to treasuries by March 25.
