‘Budget 2023-24 will help U.P. become a $1 trillion economy’
The communique added that the Yogi Adityanath government has not only succeeded in presenting the biggest budget in the state’s history but also made several provisions to increase revenue.
LUCKNOW The annual Budget for financial year 2023-24, tabled in the Uttar Pradesh assembly on Wednesday, will help the state realise its dream of becoming a $1 trillion economy, the government said in a release on Friday.
The communique added that the Yogi Adityanath government has not only succeeded in presenting the biggest budget in the state’s history but also made several provisions to increase revenue. “Efforts have been made to reduce the state’s fiscal deficit as compared to previous years,” it added.
The state government has set the target of pocketing ₹1,50,000 crore as revenue from state GST and Value Added Tax in FY2023-24. Similarly, the state also aims to collect a revenue of ₹58,000 crore from excise duty. Meanwhile, the target of revenue collection from stamps and registrations has been kept at ₹34,560 crore. In addition, the state expects to pocket ₹12,672 crore as revenue from vehicle tax.