After dealing with the Lok Sabha elections, now there is a preparation to speed up the development work by increasing the budget expenditure. A target has been set to spend Rs 6500 crore in the first half of the current financial year i.e. by September 30. There will be no financial crisis for development projects from cities to villages at the moment. After the formation of the new government at the Center, the state has received an amount of 1900 crores in various items. At the same time, the state government has recently taken a loan of 500 crores from the market.
First quarter of the financial year about to end
Due to the implementation of the code of conduct for the Lok Sabha elections, development work in the state has been affected for more than two and a quarter months in the financial year 2024-25. The first quarter of the financial year is about to end. The monsoon season has been causing trouble in Uttarakhand, which suffers losses every year due to disaster. Due to rain in this four-month season, development works, especially construction works, are affected. As a result, spending the budget becomes challenging. To overcome this problem, the government has laid special emphasis on financial approval for departmental schemes and works. Like the previous financial year, this year too, the state government is under pressure to spend more budget on capital items. After the formation of the new government at the center under the leadership of Prime Minister Narendra Modi, the state has received Rs 1562.44 crore as an additional installment for the month of June as its share in central taxes. Along with this, the state has also received Rs 409 crore as the installment of the month of June in the current financial year of revenue deficit grant on the basis of the recommendation of the 15th Finance Commission. The state government has received funds for development works in the form of more than 1900 crores.
Recently a loan of 500 crores was taken from the market
The government has recently taken a loan of 500 crores from the market for development works along with payment of salaries, allowances and pensions of employees. Last month too, there was a need to take a loan from the market. Then an amount of 900 crores was taken as loan. In this financial year so far, the government has taken an amount of 1400 crores as loan. The loan is also being returned in a short period. This is making it possible to maintain financial discipline to a great extent. Additional Chief Secretary of Finance Anand Bardhan said that in the next four months, special emphasis will be laid on the approval of the budget for development schemes and the examination of the detailed project report. This will help in accelerating the pace of development work after the rains. Whatever time is left for the monsoon to arrive, the departments have been instructed to make rapid use of the budget available with them. This year, there is a provision of more than 13 thousand crores in the budget under the capital head. The target of spending 50 percent of the amount in the first half will be pursued.
