Punjab FM presents tax-free budget of Rs 1,96,462 crore; Focus on Health and Education

The first complete state budget worth Rs 1,96,462 crore 26 percent more than the previous years budget size presented by the Aam Aadmi Party (AAP) Government in Punjab on Friday turned out to be more taxing for the State than its people. Despite the challenge of resource mobilization for implementing its pre-polls promises, including a monthly stipend of Rs 1,000 to every 18-plus woman in the State, the Governments estimated subsidy bill rose to over Rs 20,500 crore. Punjabs debt is also expected to rise to Rs 3.47 lakh crore by the end of 2023-24 financial year.

Finance Minister Harpal Singh Cheema, at the same time, did not impose new taxes on the people for the second year in a row. The focus primarily remained on Agriculture-notes-for-state-psc-exams”>Agriculture, education, and health sectors on expected lines, along with development. It also proposed 2.50 lakh jobs.

Facing allegations of deteriorating law and order situation, Cheema also proposed a budgetary outlay of Rs 10,523 crore for the Police an increase of 11 percent than the previous year. No less than Rs 64 crore was proposed for modernization of the police force to tackle crime and maintain law and order.

Finance Minister also announced various new schemes, including a Market Price risk mitigation scheme for the Horticulture sector, solarisation of agriculture pumps, a young entrepreneur scheme, two coaching initiatives for students, Bill Leayao Inaam Pao, among others in his second paperless budget.

Cheema, sharing the State Governments focus areas for the year 2023-24, said that the Government aims to boost the income of farmers by promoting agricultural and allied activities, creating a conducive Environment for industrial promotion, and Infrastructure Development, as well as strengthening the state finances.