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Manpreet Singh Badal presented Punjab govt’s 1.54 lakh cr budget for FY20-21

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On February 28, 2020, the Punjab Finance Minister Manpreet Singh Badal presented Punjab govt’s Rs ₹1, 54,805 crore budget for financial year 2020-21 in the state assembly.  The budget proposed revenue receipts of Rs 88,004 crore and revenue expenditure of Rs 95,716 crore for fiscal year 2020-21 while revenue deficit for financial year 2020-21 will be Rs 7,712 crore and the fiscal deficit will be Rs 18,828 crore respectively.Key Proposals and Allocations:

-The budget earmarked 100 crore for giving 10 lakh free smartphones to the youth.

-The Punjab government on Monday scrapped the policy of granting extension in service to its employees after retirement.The retirement age of state government employees has been reduced from 60 to 58. Those who have turned 59 will retire on March 31 this year and those who are 58 will retire from September 30. The financial outgo on account of reducing the retirement age would be ₹3,500 crore. The state cabinet approved an amendment to the Punjab Civil Services Rules to make the necessary changes.

-Apart from above, for the Punjab state govt employees, 6% dearness allowance (DA) was announced along with the implementation of the 6th Pay Commission recommendations in 2020-21.

-For the education sector, a sum of Rs 13,092 crore allocated with a proposal of free education for all students in government schools up to Class 12. Currently, education is free for all students up to Class 8 and it is free up to Class 12 only for girls.

Free transportation facility for primary schools students will also be provided and for this 10 crore earmarked.

-The state government has also proposed a debt waiver to landless farm labourers and Rs 520 crore has been allocated for the same.

-Rs 4,675 crore earmarked for health sector.

-The fee levied on the sale and purchase of agriculture produce on fruits and vegetables i.e. “mandi fee” will be reduced from 4% to 1%.

-A proposal to waive Change of Land Use (CLU) charges for two years.

-The budget projected outstanding debt of Rs 2,48,236 crore for 2020-21 as against 2019-20 revised estimates of Rs 2,28,906 crore.

-State government proposes to set up two agriculture colleges at Gurdaspur and Balachaur.

About Punjab:
Punjab Legislative Assembly Speaker– Rana Kanwar Pal Singh
Chief Minister– Captain Amarinder Singh
State Flower– Lilium candidum or the Madonna lily
State Animal– Blackbuck (Antilope cervicapra)
State Bird– Northern goshawk (Baz/Melierax poliopterus)
State Tree– Dalbergia sissoo (Shisham)