Budget 2021: UP Going to lose Above 45 Thousand Crores

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Budget-2021

Uttar Pradesh is also not going to remain untouched due to the reduction in central tax collection due to the Corona epidemic. In the budget presented by the central government on Monday for the financial year 2021-22, the state is expected to get less than Rs 50,000 crore in the current financial year as a share in central taxes. While presenting the budget for the current financial year, Budget 2021 the state government had estimated to get around Rs 1.53 lakh crore through the share in central taxes, while the revised estimate in the Union budget is now expected to be less than Rs 1 lakh crore. is. In such a situation, the challenge of arranging resources to fuel its fifth budget has increased in front of the Yogi government.

States make up 41 percent of the divisible pool of central taxes

based on the recommendations of the Fifteenth Finance Commission. Presenting the budget for the financial year 2021-22 last year, the central government estimated the total share of states in central taxes at Rs 7,84,180.87 crore. Uttar Pradesh has a 17.93 percent share in the state of central taxes. On this basis, Budget 2021 Uttar Pradesh was estimated to get Rs 1,40,611.48 crore out of the divisible pool of central taxes in the current financial year

The central government’s tax revenue has decreased due to the Corona disaster. Due to this, the size of the total share of states in central taxes has come down to Rs 5,49,959.19 crore in the revised estimates presented for the current financial year on Monday. Accordingly, Uttar Pradesh will now get Rs 98,618.07 crore in central taxes in the current financial year.

Budget 2021 In the new budget, Uttar Pradesh is estimated to get Rs 1,19,395.3 crore as a share in central taxes in the next financial year. At the same time, compared to the present in the next financial year, the share of central taxes for Uttar Pradesh is estimated to be Rs 20,773.23 crore more, but it is Rs 21,216.18 crore less than the previous Union budget.

UP’s share in central taxes (Rs crores) for the financial year 2020-21

Tax: Budget Estimate: Revised Estimate
Corporation Tax: 43,251.7: 28,303.17
Income Tax: 40,216.34: 28,834.5
Central GST: 42,559.4: 31,303.48
Custom Duty: 8,776.32: 6,561.27
Central Excise Duty: 5,734: 3,510
Service Tax: 74.99: 102.92