Punjab finance minister Cheema presents Rs 2 lakh crore budget for FY25

Chandigarh: The Aam Aadmi Party (AAP) government presented the budget in the Punjab Assembly for the fiscal year 2024-25, totaling 2,04,918 crores. This marks the first time the budget in Punjab has surpassed 2 lakh crores.

In the opening of the budget speech, Finance Minister Harpal Cheema highlighted the creation of over 40,000 jobs in the last two years.

The budget allocates Rs 13,784 crore for agriculture and Rs 16,967 crores for school education. Additionally, the Punjab government earmarked Rs 166 crore for the tourism sector, with Rs 30 crores allocated for various monuments and parks, and another Rs 30 crores for sightseeing. A new eco-tourism project has been initiated.

Furthermore, a budget of Rs 3.67 crore has been allocated for subsidized power for the industry, along with Rs 50 crore for additional financial assistance to state industries. The Aam Aadmi Clinic receives a budget of Rs 249 crore, while Rs 20 crore is reserved for the Farishtey scheme, Rs 553 crore for Ayushman Bharat, Rs 70 crore for drug de-addiction projects, and Rs 100 crore for 58 new ambulances.

For sports development, Rs 272 crore has been allocated, with plans to establish 1,000 sports nurseries across Punjab. The government has also set aside Rs 80 crore for higher education, including Rs 6 crore for scholarships and Rs 5 crore for sanitary napkins. A budget of Rs 525 crore is proposed for technical education.

In an effort to enhance the quality of education, the government has allocated Rs 16,987 crores this year, constituting 11.5 percent of the total budget. Notably, 118 government schools have achieved the School of Eminence status, while 15 new schools have been established. Rs 100 crore has been earmarked for these schools, along with an initial proposal of ten crores for the School of Barillions and ten crores for the School of Application.

Agriculture receives a significant allocation of Rs 13,784 crore, including Rs 467 crore for sugarcane farmers and an additional Rs 390 crore for the following year. The provision of free electricity for farmers will continue, with a budget reserve of Rs 9,330 crore.

The Finance Minister emphasized a growth rate of 13 percent during his government’s tenure, contrasting with lower rates in previous administrations. Efforts to provide canal water to the farthest reaches of agricultural fields aim to prevent Punjab from desertification.