State-Allocates-Additional-Stamp-Duty-to-Urban-Transport-Fund-in-FY-2023-24State-Allocates-Additional-Stamp-Duty-to-Urban-Transport-Fund-in-FY-2023-24

In the ongoing fiscal year 2023-24, the state government allocates an extra two percent stamp duty to the Dedicated Urban Transport Fund, amounting to Rs 276.38 crore. This strategic move aligns with the objectives outlined in the Uttar Pradesh Urban Transport Fund Rules 2013, as confirmed by a recent Finance Department order.

State Allocates Two Percent Additional Stamp Duty to Urban Transport Fund

In the fiscal year 2023-24, the state government has directed the allocation of an extra two percent stamp duty to the Dedicated Urban Transport Fund. The sum of Rs 276 crore 38 lakh 85 thousand has been earmarked for the Urban Bodies Directorate, aligning with the provisions of the Uttar Pradesh Urban Transport Fund Rules 2013. A recent Finance Department order, issued on Wednesday, formalizes this strategic move.

Fiscal Allocation for Urban Transport

Under the current financial plan, the state government channels the additional two percent stamp duty to bolster the Dedicated Urban Transport Fund. This allocation, totaling Rs 276.38 crore, is specifically designated for the Urban Bodies Directorate. The decision reflects a concerted effort to achieve the outlined objectives within the framework of the Uttar Pradesh Urban Transport Fund Rules 2013.

Government Order Formalizes Allocation

The Finance Department’s official order issued on Wednesday solidifies the allocation of the two percent additional stamp duty to the Dedicated Urban Transport Fund. This proactive measure demonstrates the government’s commitment to enhancing urban transport infrastructure and services.

Strategic Alignment with Urban Transport Fund Rules 2013

The allocation of funds is in strict accordance with the provisions set forth in the Uttar Pradesh Urban Transport Fund Rules 2013. This strategic move aims to fortify the financial resources available for urban transport initiatives, ensuring a targeted and effective approach to addressing the evolving needs of the region.

Conclusion: Empowering Urban Transport Initiatives

In conclusion, the state’s decision to allocate the two percent additional stamp duty to the Dedicated Urban Transport Fund signifies a deliberate effort to empower urban transport initiatives. This strategic financial injection, in alignment with established rules, reflects the government’s dedication to fostering sustainable urban development and addressing the evolving challenges in the transportation sector.

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