The second budget of Punjab’s Bhagwant Mann government (AAP), which is also its first detailed budget, was delivered today. Punjab’s budget for the fiscal year 2023–24 is Rs 1,96,462 crore, or 26% greater than the budget for the prior year, according to state finance minister Harpal Singh Cheema, who made the announcement in front of the assembly.
Cheema claimed that I had made a commitment to increase funding in my previous budget. Steps to raise farmers’ incomes will be one of this year’s focus topics. The Aam Aadmi Party government delivered on its election pledge to give Punjabi families 300 units of free electricity units per month.
During the fiscal year 2023–2024, Harpal Cheema announced capital expenditures of Rs. 11,000 782 crores. This budget is 22 percent higher than the prior one. The Punjab government, according to him, has taken action to encourage agricultural diversification.
Punjab Budget Highlights:
- The border region has received a 40 crore budget allocation in the Punjab government’s budget for the first time.
- In its first year, the Punjab government gave 26,797 young people permanent work. The necessary steps are being taken to fill 22,594 positions.
- The Finance Minister indicated in his budget that Rs 26,295 crore will be allotted to the improvement of Punjab’s infrastructure. This represents an increase of 13% from the prior year.
- The budget includes Rs 3,319 crore for panchayats and rural development. 11% more than the previous year.
- An amount of Rs. 7,780 crores was given to residential consumers to get power subsidies.
- A budget of Rs 990 crore has been proposed to support state university education in Punjab by offering help to various state universities.
- A budgetary provision of Rs 4,781 crore has been made for health and family welfare for the fiscal year 2023–24. Comparative to last year, this is up 11%.
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