Admitting that the states financial health was very poor and the state was in a debt trap, he sought to apportion the blame on his predecessors.
While no new taxes had been levied on the people on the budget, the government expressed confidence that it would strive to narrow the gap by generating resources and cutting down unproductive expenditure.
It may be recalled that the previous Mayawati government had taken a vote on account for the first six months of the current financial year. The new government had also taken a vote on account for three months beginning September.
In his budget speech, marred by a noisy walk-out by members of Bahujan Samaj Party protesting what they termed an anti-Dalit budget, Mr Yadav listed the achievements of his government during the past two-and-a-half months and announced his priorities.
He announced two schemes namely accelerated economic development scheme and the kanya vidya scheme for rapid economic development and promoting education of the girl child. The government would incur a total expenditure of Rs 200 crore in the scheme.
In his 48-page speech, Mr Yadav said his newly-formed government would turn UP into a model state. Announcing a variety of developmental schemes in the budget, he said to boost the image of the state, he was introducing an accelerated economic development scheme of Rs 100 crore. The fund would be used mainly for roads, power and irrigation projects.