Focusing on Faster Growth and Balanced Development: Uttar Pradesh Budget 2017–18 Agarwal M.K.1,**, Tiwari Shivakar2,* 1Professor, Department of Economics, University of Lucknow, Lucknow-226007, Uttar Pradesh, India 2Research Assistant, Giri Institute of Development Studies, Lucknow-226024, Uttar Pradesh, India *Corresponding author email id: shivakar1984@gmail.com
**mkagarwal@hotmail.com
Online published on 23 November, 2018. Abstract Uttar Pradesh is the largest state in terms of total population particularly of youth in the country. There are challenges of reaping the benefits of demographic dividend. If utilised effectively, then it has the huge potential of transforming the state economy. However, given the current state of economic development of the state, there is huge gap in infrastructure (road, power, irrigation facilities, health and education). In the face of lesser interest shown by the private investors, the role of the state in improving infrastructure facilities through budgetary expenditures gets more crucial. The paper has examined the budgetary expenditure pattern of the Uttar Pradesh government in recent years. It has strongly found that from the perspective of long-term growth of the economy, capital expenditure is important but it has declined by 19% in 2017–18 as compared to revised estimates of 2016–17. Further, expenditure on health and education, two crucial sectors of building human capital base, has also declined. So, given the pessimistic trend of budgetary expenditures, if one wants to achieve the target of economic growth rate of 10%, it is necessary to reverse the declining trend. Only better economic development has the potential to eradicate poverty and generate employment. Top Keywords Budgetary expenditure, Economic growth, Employment, Infrastructure. Top |