The Hindu Business Line : UP comes out of revenue deficit after 20 years

A record revenue of Rs 19,606 crore in fiscal 2005-06 has helped the Uttar Pradesh Government to come out of the revenue deficit for the first time in 20 years, said an official release.

Driven by the 2005-06 performance, the State targets a revenue surplus of Rs 1,123.17 crore in 2006-07.

"In 2005-06, receipt targets were fully met and the tax revenue collections of Rs 19,606 crore were at 100.9 per cent of the target registering a growth of 23.5 per cent over 2004-05 collections," the State Chief Minister, Mr Mulayam Singh Yadav, said.

He added that capital receipt target was also fully met with major growth in small savings loan. The non-tax revenue receipts were at Rs 2,471.96 crore, against a target of Rs 2,247.19 crore during the year. Similarly, the target share in Central taxes was Rs 18,306.23 crore against which Rs 18,202.93 crore was received, the release said.

Mr Yadav said major components of capital receipts were market loans, loans from National Bank for Agriculture and Rural Development (Nabard), small saving loans and recoveries of loans and advances.

The State received Rs 447.51 crore as loans from Nabard (against a target of Rs 250 crore), Rs 7,779.17 crore from small savings loan (against a targeted Rs 7,750 crore) and recovered Rs 684.28 crore of loans and advances (against a targeted Rs 506.92 crore), it added.

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