Punjab's Upcoming Budget Promises Historic Revenue Growth

Punjab's Finance Minister, Harpal Singh Cheema, announced on Tuesday that the state government's upcoming budget, set to be presented on March 8, will be "historic." He highlighted the significant increase in excise and GST revenues over the past four years. Speaking to a news outlet, Cheema stated, "Our budget, which will be unveiled on International Women's Day, is a landmark achievement. We have made substantial progress in the last four years. During the Congress government's tenure, the excise revenue was ₹27,395 crores. To date, we have collected ₹37,975 crores in 46 months. Furthermore, in terms of GST, the Congress government recorded only ₹61,000 crores, while our administration has achieved ₹83,000 crores in revenue during our four years in office.

 

Referencing revenue statistics, the minister noted a remarkable increase in excise collections compared to the previous Congress administration. He also mentioned a significant rise in GST revenue under the current government. Earlier, on February 26, the Punjab Assembly Secretariat issued a notification calling the sixteenth assembly to convene for its twelfth budget session on March 6. According to the notification dated February 26, this session was summoned under the powers conferred by Article 174(1) of the Constitution of India, and the assembly will meet at 11:00 AM in the Punjab Assembly Hall, Chandigarh.

 

In a prior press conference in Chandigarh, Chief Minister Bhagwant Mann stated that the budget session of the Punjab Assembly will take place from March 6 to March 16. Based on the recommendations of the Business Advisory Committee (BAC), the session may be extended if necessary. He emphasized, "We will present the budget on Sunday, March 8. If Prime Minister Modi can address Parliament on a Sunday, why can't we? March 8 is not just any Sunday; it is also International Women's Day."

 

Additionally, Bhagwant Mann announced the 'Meri Rasoi' scheme, aimed at benefiting 40 lakh families by distributing ration kits. He explained that the scheme will enhance the nutritional quality of food provided through the public distribution system. The ration kits will include wheat, two kilograms of lentils, two kilograms of sugar, one kilogram of iodized salt, 200 grams of turmeric powder, and one liter of oil.