In a significant achievement for fiscal management, the state has recorded a historic revenue surplus of ₹5,310 crore for the financial year 2022-23. The milestone, confirmed by a recent report from the Comptroller and Auditor General of India (CAG), positions the state among a select group of fiscally responsible states in the country and marks a major step towards long-term economic prosperity.
The CAG report provides a clear picture of the state’s remarkable progress. Our correspondent reports that the surplus figure is a strong indicator of the state’s ability to generate more revenue than its expenditure on a recurring basis. This is a crucial sign of financial health and marks a significant departure from its past. For decades, Uttarakhand was burdened with financial challenges, often associated with states in the “BIMARU” category due to fiscal deficits and dependence on central grants. This achievement stands as a testament to the state’s transformation, showcasing an era of sound financial management and prudent policy-making.
In a statement released to the public, Chief Minister Pushkar Singh Dhami attributed this success to his government’s unwavering commitment to good governance. He stated that the achievement was not a stroke of luck but the result of solid steps taken to make the state financially strong. He highlighted that the policies were directly inspired by Prime Minister Narendra Modi’s vision of a ‘Developed India.’ “This is not merely an achievement in numbers,” the Chief Minister said, “but a strong stride towards Uttarakhand’s economic self-reliance and a prosperous future.
Our correspondent adds that this focus on fiscal discipline has been a key pillar of the current administration. By implementing transparent policies and enhancing accountability, the government has managed to plug loopholes and optimize revenue collection. The surplus will now provide the state with crucial resources to invest in development projects without incurring additional debt. Funds can now be allocated towards key sectors like infrastructure, healthcare, and education, which will ultimately benefit the citizens directly.
The CM’s statement concluded by reiterating the government’s steadfast commitment to transparency, accountability, and fiscal discipline. He expressed confidence that by adhering to these principles, Uttarakhand can continue on its path to becoming a developed and self-reliant state. Our correspondent reports that this achievement is expected to build investor confidence and attract more business, further boosting the state’s economic growth. It sends a clear message that Uttarakhand is a fiscally sound and well-managed state, ready for sustainable development. Our correspondent adds that the financial health of the state is also expected to improve its credit rating, making it easier to secure loans for future projects and reducing the cost of borrowing. This historic revenue surplus, therefore, is not just a statistical triumph but a powerful symbol of a new chapter of fiscal responsibility and economic optimism for Uttarakhand.
