No new taxes, no rollback of petrol prices in U.P.

Lucknow, June 1(ANI): Refusing to cut petrol prices in the state, Chief Minister Akhilesh Yadav on Friday said the state government has not imposed any new tax in the 2012-13 Budget.

Yadav said the government would ensure maximum taxes were collected by the concerned departments.

Interacting with mediapersons after presenting the budget in the state Assembly, he said, "We have not imposed any new tax. We are working to ensure that department will be able to recover maximum taxes. The Central government has been increasing prices for a while. We don't have much sources of revenue generation as compared to other states. That has been published in the newspapers and you and I have read it," Yadav said.

Further, he announced the formulation a new scheme to waive off debt up to Rs.50,000 to impoverished farmers.

"Many farmers are in debt. We are going to begin it from government banks. We are going to formulate new policy to waive off farmer's loan up to rupees 50,000," he said.

Yadav presented his maiden budget amidst walkout by main opposition, the Bahujan Samaj Party (BSP). (ANI)