Uttarakhand budget 2020-21
GDP of Uttrakhand in 2020-21
The growth rate of Uttarakhand’s GDP (at constant prices) is estimated to be 6.9% in 2018-19, a decline from the 9.8% growth rate in 2016-17, and 7.8% growth rate in 2017-18.
Different sectors of Economy of Uttrakhand in 2020-21
Agriculture, Industry, and Services are estimated to contribute 10%, 52%, and 38%, respectively to the state’s economy in 2019-20. Both agriculture and industry sectors have seen a decline in their growth over the last few years.
Expenditure for 2020-21 in Uttrakhand
Total expenditure for 2020-21 is estimated to be Rs 53,527 crore, a 18.7% increase over the revised estimate of 2019-20. In 2019-20, total expenditure is estimated to decrease by 7.4% (Rs 3,582 crore) from the budget estimate for the year (Rs 48,664 crore).
Key Budget provisions for Agriculture sector in 2020-21
- Krishi Utpadan Lagat Sarvekshan Yojana will be started for providing minimum support price for crops such as mandua, sanwa, urad, ghat and masoor.
- A provision of Rs 2,300 crore has been made for payment of wheat and paddy procured from farmers in 2020-21.
- Rs 240 crore has been allocated towards assistance to sugar mills for clearing dues of sugarcane farmers.
Key Budget provisions for Education and Employment
- Government will ensure construction of buildings in all government colleges in the state by 2022.
- Salary for guest teachers in universities will be increased from Rs 25,000 to Rs 35,000.
- Mukhyamantri Shikshuta Yojana will be started for learning new work-related skills in different sectors. Mukhyamantri Swarojgar Yojana and Mukhyamantri Palayan Roktham Yojana will be started for generating self-employment opportunities and preventing migration from the state.
Key Budget provisions for Health and social welfare
- Approximately Rs 300 crore has been allocated for establishment of a medical college in Haldwani, Almora and Dehradun.
- Mukhyamantri Saubhagyaati Yojana will be started for preventing decline in sex-ratio by providing kits to mothers on birth of a girl child in first delivery.
- Pension for old-age, dependent widows and disabled to be increased from Rs 1,000 per month to Rs 1,200 per month.
Fiscal estimates of Uttrakhand in 2020-21
The budget estimates a revenue surplus of Rs 50 crore (or 0.02% of GSDP) in 2020-21. This implies that revenue receipts are expected to be slightly higher than revenue expenditure, resulting in a revenue surplus. In 2019-20, the state had estimated a revenue surplus of Rs 21 crore, as per the revised estimates.
In 2020-21, fiscal deficit of Uttrakhand is estimated to be Rs 7,550 crore, which is 2.6% of the GSDP. In 2019-20, as per the revised figures, the fiscal deficit is estimated at Rs 6,673 crore or 2.5% of GSDP. These estimates are within than the 3% limit as per the FRBM Act.