Uttar Pradesh: No extension of financial year due to lockdown

LUCKNOW: The state government will not extend the closure of financial year 2019-20 beyond March 31 and said there would be no shortage of funds due to corona lockdown.
Speaking to TOI, additional chief secretary finance, Sanjiv Mittal said there would be no extension of the current financial year and the new FY 21will start from April 1.
The state government will ensure there is no paucity of funds despite lockdown and end the financial year 2019-2020, as state treasury and the department concerned would get h funds from April 1 without any delay.
Mittal also clarified that if departments have not been able to exhaust the funds of last financial year, the same would be returned to the state government which would transfer them in their accounts on April 1. There would be no impact on ongoing plans, programmes and projects of state government, said Mittal, adding that the state assembly and cabinet have already passed the state’s budget of Rs 5.12 lakh crore, so there would be no problem at all.
Mittal is also chairman of the committee formed by the chief minister to draft a revival plan for state economy after assessing the impact of the lockdown and would submit its report by April.Some members of the committee feel that the closure of factories, firms, decline in consumption of petrol and no property registration in the lockdown duration will impact the state economy.