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Punjab Finance Minister Harpal Singh Cheema presented a ₹1.96-lakh-crore State Budget for 2023-24 in the assembly here on Friday with a focus on agriculture, education, and health segments.
Speaking in the Assembly, Harpal Cheema said education, health, and agriculture are among the priority sectors for the government.
Total budget size has been increased by 26 per cent to ₹1,96,462 crore for 2023-24 over the previous year, the State Finance Minister said.
Also read: Populism pushes out true welfare in State budgets
It is the first full budget of the AAP Government.
After coming to power in March 2022, the AAP Government first passed a vote-on account on March 22 and then it presented its budget in June for the remaining part of the year.
Agriculture and health
The Finance Minister proposed ₹13,888 crore for agriculture and allied sector, up by 20 per cent. The Government will soon come out with a new agriculture policy for which a committee of experts have been formed for the purpose, he said.
A sum of ₹1,000 crore has been allocated for crop diversification. A revolving fund for Basmati crop purchase has also been set up, he said.
The Government has decided to launch a risk mitigation crop insurance scheme--Bhaav Antar Bhugtan Yojana.
Also read: ‘Power’ of rich farmers
Cheema said that ₹125 crore has been allocated for direct sowing of paddy and moong crop purchase.
On the stubble burning issue, Cheema said that there has been a drop of 30 per cent in stubble burning incidents.
Cheema said that a free power subsidy of ₹9,331 crore for the farm sector has been earmarked for 2023-24.
In the health sector, he said 10.50 lakh people have been treated in 'Aam Aadmi Clinics' in the State so far. He said 26,797 jobs have been given so far by the Bhagwant Mann government.
Also read: Health Min warns Punjab Government to not violate MoUs on Ayushman Bharat health clinics
State expenditure
The effective revenue deficit and fiscal deficit have been pegged at 3.32 per cent and 4.98 per cent of the gross state domestic product (GSDP) respectively.
A sum of ₹74,620 crore has been proposed towards the committed expenditure, a jump of 12 per cent in comparison to FY 2022-23.
Effective capital expenditure is pegged at ₹11,782 crore, an increase of 22 per cent in comparison to the previous fiscal.
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