Punjab Budget 2024-25 Hailed as a Step Towards “Rangla Punjab”

Punjab Budget 2024-25 Hailed as a Step Towards “Rangla Punjab”

Chandigarh, March 5:

In a significant milestone for Punjab, Chief Minister Bhagwant Singh Mann lauded the Budget 2024-25 presented by Finance Minister Harpal Cheema in the Legislative Assembly. This budget, exceeding two lakh crore rupees for the first time, signifies a crucial step towards realizing the vision of ‘Rangla Punjab’ through equitable and comprehensive development across the state.

Chief Minister Mann commended the budget’s focus on key sectors such as health, education, power, infrastructure, industry, sports, and social security. He emphasized that these initiatives would pave the way for accelerated development and ensure the welfare of all segments of society, particularly the marginalized and underprivileged.

With a notable emphasis on fiscal prudence and resource mobilization, the budget reflects a clear vision and determination to drive Punjab towards prosperity. Notably, tax revenue growth has surpassed previous years’ rates, indicating a robust economic strategy and commitment to effective implementation.

In line with the government’s pledge to transform Punjab into ‘Rangla Punjab,’ significant allocations have been made for crucial sectors like agriculture and ancillary industries. Measures such as crop diversification schemes and electricity subsidies for agriculture underscore the government’s commitment to farmer welfare and sustainable agricultural practices.

Key Highlights:

• Over 2 lakh crore budget: For the first time, Punjab’s budget surpassed the 2 lakh crore mark, reflecting the government’s commitment to public welfare initiatives.
• Focus on crucial sectors: The budget prioritizes critical sectors like healthcare, education, power, infrastructure, industry, sports, and social security, paving the way for comprehensive growth.
• Increased tax revenue: The Chief Minister highlighted the 13% growth in tax revenue compared to the previous regime’s average, demonstrating the government’s focus on resource mobilization.

Investing in the Future:

• Agriculture Boost: The budget allocates Rs 13,784 crore to agriculture and allied sectors, promoting crop diversification (Rs 575 crore) and ensuring farmer well-being through a Rs 9,330 crore electricity subsidy.
• Education Reforms: A historic Rs 16,987 crore has been dedicated to education, including funds for Schools of Eminence, Schools of Brilliance, Schools of Applied Learning, and Schools of Happiness, fostering holistic development and skill-based learning.
• Strengthening Healthcare: Rs 5264 crore has been allocated to the health sector for improved healthcare services across the state.

A Vision for Progress:

• Fiscal Discipline: The Chief Minister emphasized the budget’s focus on fiscal prudence and responsible resource management.
• Industrial Revival: The budget aims to serve as a blueprint for reviving Punjab’s industrial sector and strengthening its agricultural economy.
• Public Welfare Focus: The budget reflects the AAP government’s commitment to serving the underprivileged and ensuring inclusive development.

Moreover, the proposed Malwa Canal Project holds promise for enhancing irrigation efficiency and reducing groundwater dependency in key districts, thereby bolstering agricultural productivity and water management efforts.

Education and healthcare sectors have received substantial allocations, reflecting the government’s dedication to nurturing human capital and ensuring access to quality services for all residents. Investments in Schools of Eminence, Schools of Brilliance, and health infrastructure demonstrate a holistic approach towards fostering educational excellence and healthcare accessibility.

With an eye towards promoting industrial growth and revitalizing the agricultural economy, the budget lays the groundwork for fostering economic resilience and prosperity. Chief Minister Mann expressed optimism that this budget would serve as a catalyst for industrial revival and agricultural advancement, propelling Punjab towards new heights of development and progress.

In essence, the Budget 2024-25 represents a significant milestone in Punjab’s journey towards inclusive growth and prosperity. By prioritizing public welfare and embracing economic prudence, the government aims to address the aspirations of the people and establish Punjab as a beacon of development and opportunity.

Overall, the Punjab Budget 2024-25 has been hailed as a significant step towards achieving “Rangla Punjab,” marking a new era of progress and prosperity for the state.