Punjab FM Manpreet Singh Badal presents State Budget for FY 2021-22 with an outlay of INR 1, 68, 015 Crore

Punjab Finance Minister (FM) Manpreet Singh Badal presented the State Budget for Financial Year (FY) 2021-22 with an outlay of INR 1, 68, 015 Crore.

Fiscal Indicators (Budget Estimates 2021-22)

• Revenue Receipts – INR 95,257.60 Crores
• Capital Receipts –  INR 67,341.09 Crores
• Revenue Expenditure – INR 103879.91 Crores
• Fiscal Deficit – INR 24239.68 Crores

Sector Wise Allocations

• Social Services – INR 19,640.82 Crores (62%)
• Agriculture & Allied Activities – INR 4,777.79 Crores (15%)
• Rural Development – INR 2,205.22 Crores (6.98%)

Major Announcements

Crop Loan Waiver

• Debts worth INR 1,186 Crore will be waived for around 1.13 Lakh Small & Marginal Farmers.
• Debts worth INR 526 Crore are set to be waived for Landless farmers in 2021-22.

Other Announcements

• Old Age Pension has been raised from INR 750 per month to INR 1, 500 per month.
• Free Power for Agriculture pump sets in 2021-22 at a cost of INR 7, 180 Crore.
• INR 100 Crore to be spent on Babasaheb Ambedkar Museum which will be set up in Kapurthala.

Urban Infrastructure

• INR 1600 Crore has been allocated for Smart Cities Mission. The Government of India has already selected Ludhiana, Amritsar & Jalandhar under the Smart Cities Mission.
• Sultanpur Lodhi has been included in the smart cities mission as a special case.
• INR 1, 400 Crore has been proposed under Atal Mission for Rejuvenation & Urban Transformation (AMRUT) & INR 114 Crore for Swachh Bharat Mission (Urban).

Shagun Scheme

The Allotment for Shagun scheme (also known as Aashirwad Scheme) has been increased from INR 21, 000 to INR 51, 000.

• It is a scheme for providing financial assistance to a girl’s marriage.

Rural Infrastructure

• INR 3, 744 Crore allocated for the creation of rural infrastructure & rural livelihood.
• INR 400 Crore for MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme)

‘Kamyaab Kisan, Khushaal Punjab (K3P)’

• A New Scheme which aims to improve the income of farmers. INR 3, 780 Crores have been allocated under this scheme for the next 3 years, and an outlay of INR 1, 104 crores has been set aside for 2021-22.

Defence

• INR 135 Crore allocated for Defence welfare & INR 64 Crore for guardians of governance scheme.

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About Punjab:

Governor – V P Singh Badnore
Capital – Chandigarh