Punjab presents a budget of Rs 1,55,860 crore

The first budget for the Aam Aadmi Party administration’s fiscal year 2022–2023 was unveiled on Monday by Punjab Finance Minister Harpal Cheema, with a total expenditure of ₹1,55,860 crore.

The State’s first paperless budget was presented by the Finance Minister, saving an estimated 21 lakh rupees annually. The budget was given to the State Assembly, and according to it, Punjab currently owes ₹2.63 lakh crore in total. The proposed budget for the upcoming fiscal year placed a strong emphasis on modernising the police, agricultural, and health sectors.

Mr. Cheema announced the creation of cyber-crime control units in each district as well as the upgrade of 100 schools to “schools of eminence.”

“I propose a total budget expenditure of ₹1,55,860 crore for the FY 2022-23, which reflects 14.20% growth compared to the FY 2021-22,” Mr. Cheema said in the Assembly.

According to the Finance Minister, he anticipates a 17.08 percent growth in State revenue receipts from 2021–2022 to 2022–2023 and a contribution of ₹95,378 crore. “This big undertaking would be accomplished without adding any extra taxes for the Punjabi people. The new excise policy would be a “game changer,” upending the monopolies and oligopolies that have grown throughout the years in this industry. To reach ₹9,648 crore, or a staggering 56 percent rise over FY 2021–2022, we are hoping to raise our excise revenue. Once more, attempts are already being made to close GST collection gaps. In FY 2022–2023, I anticipate an increase in GST collections of roughly 27 percent, adding an additional ₹4,350 crore to the State’s coffers.

The State could have a revenue shortfall of ₹12,553.80 crore with proposed earnings of the State at ₹95,378 crore and proposed expenses of the State at ₹1,55,860 crore.

According to Mr. Cheema, starting on July 1, 2022, the AAP government will give every resident of Punjab 300 home electricity units free of charge each month, delivering its first promise to the state’s residents. He added that 117 Mohalla clinics will be built by the government, for which a budget of ₹77 crore has been set aside.

Partap Singh Bajwa, the leader of the opposition in the Punjab Assembly, referred to the budget as “empty,” claiming that the government has provided no strategy for keeping its commitments to the state’s residents.

“The Government of Punjab has made no announcement on giving ₹1,000 per month to every woman above 18. A key guarantee of the AAP Government, it seems the women of Punjab will have to wait at least for another year for this program to see the light of day. Also, the announcement has been made only for 117 Mohalla clinics. However, the requirement for Primary Health Care in Punjab is much larger than 117 clinics. The intention behind the scheme is to have essential services available in every village of Punjab,” said Mr. Bajwa.

Mr. Bajwa continued by saying that the budget makes no indication of how the State intends to address significant social issues like the drug epidemic afflicting our youth. “By failing to even recognise such an important issue, how is the government going to effectively create a drug-free Punjab,” he said.