THE NEWS FREEDOM
CHANDIGARH, MARCH 5
Punjab’s Finance Minister, Harpal Singh Cheema, today unveiled a forward-looking budget of ₹2,04,918 crore for the fiscal year 2024-25, highlighting a tax-free approach and a steadfast commitment to bolstering agriculture, education, and healthcare. Cheema’s address radiated optimism, underlining the government’s pledge to foster inclusive growth, setting a trajectory for Punjab’s prosperity and dynamism.
The budget’s total expenditure estimation of Rs. 204917.67 crore for FY 2024-25 allocates a substantial Rs 13,784 crore to the agriculture sector, prioritizing sustainable practices, technological advancements, and farmer welfare. This investment underscores the government’s dedication to ensuring food security and rural prosperity.
Acknowledging the pivotal roles of health and education in societal advancement, the budget channels significant resources into these crucial domains. With an allocation of Rs 16,987 crore for education, the government aims to elevate learning outcomes and deliver quality education to all. Concurrently, allocations of Rs 5264 crore for Health and Family Welfare, and Rs 1133 crore for Medical Education and Research, will bolster the state’s healthcare infrastructure and response capabilities.
A substantial portion of the budget, amounting to Rs 9388 crore, is earmarked for Social Welfare schemes, underscoring the government’s priority in safeguarding the well-being of its citizens, particularly those requiring support.
The Punjab Government’s commitment to employment generation remains steadfast, with over 40,000 government jobs created in the past two years. The budget reinforces this commitment by allocating Rs 525 crore for Technical Education and Rs 179 crore for Employment Generation and Training.
Innovative proposals in the budget include initiatives like Schools of Brilliance, Applied Learning and Happiness, and a Fish Seed Farm program aimed at river ranching. Furthermore, an allocation of Rs 100 crore has been set aside for the ongoing mission to transform 118 schools into state-of-the-art Schools of Eminence.
Infrastructure development receives a significant boost with an earmark of Rs 24283 crore, distributed across various departments including Water Resources, Local Government, Power, Public Works, Rural Development and Panchayats, Transport, Housing and Urban Development, and Water Supply and Sanitation. This allocation signifies a 16.4 percent increase from the previous fiscal year, highlighting the government’s emphasis on long-term development and modernization efforts.
The budget anticipates revenue collection exceeding Rs 1 lakh crore, a testament to prudent fiscal management and effective resource mobilization strategies.
READ THE COMPLETE BUDGET SPEECH HERE PDF Budget_Speech_English