Treasury was empty in 2017, UP now revenue surplus: CM Adityanath
LUCKNOW, May 5 -- Chief minister Yogi Adityanath on Monday said when he took charge in 2017, no bank chairman or CMD was willing to even take his call given Uttar Pradesh's "dire financial situation", but since then, the state has transformed from "BIMARU to revenue surplus".
"When the government was formed in 2017, the treasury was empty. We had to fulfil our election promises, but no bank chairman or CMD was ready to take my calls. It meant no one wanted to lend to UP. In that difficult phase, we decided to increase our own resources," he said.
"Today, Uttar Pradesh is a revenue surplus state and is capable of completing even large infrastructure projects through its own financial resources," added the CM. Adityanath was addressing a gathering after distributing appointment letters to 371 newly selected auditors for cooperative societies and panchayat audit departments and 129 for the local fund audit department.
Taking a swipe at earlier regimes, he said the incomplete Jai Prakash Narayan International Centre (JPNIC) project, started before 2017, is an example of financial irregularity and mismanagement.
"JPNIC had an initial cost of Rs.200 crore, which increased to Rs.860 crore, yet the project remains incomplete. It is misuse of public money and an insult to the name of a great personality. Our government made the nearly 600-km Ganga Expressway project worth Rs.42,000 crore and completed it without bank loans," he added.
He said strong financial management in panchayats and urban local bodies is essential for achieving the goal of a "developed Uttar Pradesh". The CM said UP is now among the top three economies in the country, whereas earlier it was among the bottom three. Before 2017, the state earned about Rs.12,000 crore from excise, which has now increased to Rs.62,000-63,000 crore due to plugging leakages. These leakages were caused by misuse, he added....
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