The amount has been sanctioned from the ruling party’s fund, an Samajwadi Party release said in Lucknow.
Samajwadi Party general secretary Amar Singh on Wednesday threatened to take a “decision” on his “future political course”.
The rally is being organised by jailed mafia don Mukhtar Ansari’s party, Quami Ekta Dal (QED), which had merged with the SP last month.
The announcement has come a few days after Mulayam Singh Yadav announced that his party would not enter into an alliance with any party but maintained that the door was open for merger.
The marathon meeting, spread over two sessions and kept under wraps, came a day after top leaders of socialist-leaning parties attended SP’s silver jubilee meet.
Shivpal is the younger brother of Mulayam and he holds important portfolios in the state government like PWD, Irrigation, Cooperatives and Revenue.
SP spokesperson Rajendra Chaudhary said, “I have no such information (on discussion on the alliance). Discussion will be held at the level of netaji (Mulayam) and he has to take a final decision.”
Amar is credited with developing the SP’s contacts in the corporate world as well as Bollywood. Sources said that Amar, being in the Rajya Sabha, can help Mulayam more than other SP members in the Upper House.
The Samajwadi Party had yesterday announced the names of seven party candidates for the Rajya Sabha elections scheduled for next month, which included the name of Amar Singh.
During the Question Hour, Yadav said he wanted to raise an “important question relating to declining number of cows”.
The next Assembly elections will be contested under his (Akhilesh) leadership. The development he initiated is visible across the state, Mulayam Singh Yadav said.
CBI had in 2013 cleared Yadav of charges that he misused his office as chief minister of Uttar Pradesh to accumulate vast amounts of wealth.
26-year-old Aparna will contest the 2017 Assembly election from Lucknow’s Cantonment Assembly seat.
Keeping in mind the Assembly elections next year, the government plans to complete all the proposed development works by October 2016.
Aparna Yadav’s performance is regular feature at the annual show with organisers paying her Rs 1 lakh.