CHANDIGARH: The Punjab budget for the 2024-25 fiscal year, totalling Rs 2,04,918 crore, was presented on Tuesday without the introduction of any new taxes.
The budget prioritises education, featuring special proposals for ‘Schools of Brilliance’ and ‘Schools of Happiness.’ Health is another significant focus, though the anticipated financial assistance of Rs 1,000 for women above 18 years of age was not announced due to the state’s challenging fiscal situation.
The budget encompasses numerous new initiatives, including the transformation of 100 government senior secondary schools into ‘Schools of Brilliance’ and 100 primary government schools into ‘Schools of Happiness.’ Cheema said that the government would not impose any new taxes and expects total revenue receipts to be Rs 1,03,936 crore in 2024-25, with Rs 58,900 crore from its own tax revenue. Additionally, the state anticipates receiving Rs 22,041 crore as its share of central taxes and Rs 11,748 crore as grants-in-aid from the Centre.
The finance minister announced an allocation of Rs 16,987 crore for the education sector, which represents approximately 11.5% of the total projected expenditure.
While presenting the budget, Cheema highlighted that the Aam Aadmi Party government has provided over 40,000 jobs in two years. He also mentioned that Rs 13,784 crore has been allocated to the agriculture sector and Rs 16,987 crore to the education sector.
Cheema elaborated on the transformation of 118 government schools into state-of-the-art ‘Schools of Eminence,’ with 14 such schools already operational. The government has allocated Rs 100 crore for this initiative in the upcoming fiscal year. He further explained the ‘Schools of Brilliance’ program, aiming to elevate the quality of education and transform rural schools into learning centres for students from grades 6 to 12, with an initial allocation of Rs 10 crore earmarked for this purpose.
Moreover, Cheema said that the government plans to transform 100 primary government schools into ‘Schools of Happiness.’ This program will focus on providing well-ventilated classrooms, dedicated play areas, resource rooms, and activity corners, with a budget of Rs 10 crore allocated for this initiative in the fiscal year 2025.
The budget allocates Rs 7,780 crore to cover zero electricity bills for domestic consumers receiving 300 units of free power. The free bus travel facility for women will continue, with a budget of Rs 450 crore allocated. Additionally, Rs 9,388 crore has been set aside for various social welfare schemes, including Rs 5,925 crore for social security pensions. The industry sector received an allocation of Rs 3,367 crore, including subsidies for power consumption. An outlay of Rs 2,695 crore has been earmarked for improving road connectivity.
Cheema emphasized the government’s success in consolidating the state’s revenue resources, achieving a 13% annual growth rate in State Own Tax Revenue. He also mentioned that the government has been providing an average of 55 jobs per day.
In sports and youth services, Cheema proposed establishing 1,000 sports nurseries across all districts of Punjab for approximately 60,000 sportspersons aged 6 to 17 years.
The government has also proposed the Malwa canal project, aiming to reduce reliance on groundwater and optimize the underutilized state share of Beas-Sutlej river water during the Rabi season. The new canal project aims to irrigate approximately 1.78 lakh acres, benefiting farmers in the Bathinda, Faridkot, Muktsar, and Ferozepur districts.