Tag: Punjab Govt Budget

Punjab & Haryana Announced Their Budget

(Chandigarh)Punjab & Haryana Announced Their Budget
Haryana Chief Minister Manohar Lal Khattar, who also holds the finance portfolio, on Friday announced a Rs 1,42,343-crore budget in the state assembly
Khattar, who presented his maiden budget, said that the debt is set to increase to Rs 1.98 lakh crore in 2020-21 as against Rs 1.76 lakh crore in the previous fiscal.
He further stated that the expenditure will increase to Rs 1,42,343 crore, a rise by 7.7 %
Revenue receipts are expected to increase by 15.96 % in 2020-21
The government has allocated Rs 5,474.25 crore to agriculture, Rs 19,343 crore to education and sports and culture, Rs 6,533 crore to health and medical education, Rs 6,294 crore to rural development and panchayat, Rs 349 crore to industries and Rs 9,000 crore to pensions
The Punjab government on Friday presented a Rs 1.54 lakh crore budget for financial year 2020-21 in the state assembly.
Presenting the budget, Punjab Finance Minister Manpreet Singh Badal announced debt waiver to landless farm labourers and added that a sum of Rs 520 crore has been set aside for the same.
The budget also earmarked Rs 13,092 crore for the education sector and Rs 4,675 crore for the health sector.
He further announced 6% dearness allowance to the state government employees from March this year and said the government will implement the 6th Pay Commission recommendations in 2020-21.
Badal further said ‘mandi fee’ — the fee levied on the sale and purchase of agriculture produce — on fruits and vegetables will be reduced from four per cent to one per cent.
The minister also announced to waive Change of Land Use (CLU) charges for two years.
In the budget, Badal proposed revenue receipts of Rs 88,004 crore and revenuexpenditure of Rs 95,716 crore for fiscal year 2020-21.
Badal said that the state government proposes to set up two agriculture colleges at Gurdaspur and Balachaur.