Punjab Budget 2023: Today, the Punjab government of Bhagwant Mann unveiled its first comprehensive budget and the second budget of its term.
Punjab’s budget for the fiscal year 2023–24 is Rs 1,96,462 crore, which is 26% greater than the budget for the prior year, according to state finance minister Harpal Singh Cheema, who made the announcement in front of the Legislature.
According to him, Punjab’s Gross State Domestic Product (GSDP) is pegged at Rs 6,98,635 billion. Cheema claimed that I had made a resource-raising commitment in my previous budget.
Steps to raise farmers’ incomes will be one of this year’s main areas as a result. The Punjabi homes would now receive 300 free electricity units each month as promised by the Aam Aadmi Party administration.
If you are looking for Punjab Budget 2023-24 Highlights, Date, Key Features then we have provided all the details here. We have also given Punjab Budget 2023 pdf download link.
Punjab Budget 2023 Overview
|Budget Name||Punjab Government Budget 2023-24|
|Punjab Budget Date||10 March 2023|
|presented by||Finance Minister Harpal Cheema|
|Presented in||Punjab Assembly|
|Ruling party||Aam Admi party AAP|
|Total budget||1.96 lakh crore|
Punjab Government Budget date, key Features
FM harpal cheema presented punjab 1.96 lakh crore budget on 10 March 2023. During the fiscal year 2023–2024, Harpal Cheema has announced capital expenditures of Rs. 11,782 crore.
The increase over the previous budget is 22%. The Punjab Government, according to him, has taken action to encourage agricultural diversification. Further steps in this regard will be taken by this budget.
According to Cheema, the state will soon have the elite institutions that were promised in the last budget.
The sinking fund for debt reduction in 2022–2023 has received an increase from the state government of Rs 3,000 crore.
The state also forecast a rise in per capita income of 7.40% by 2022–2023. According to Cheema, the Punjab government would shortly unveil a new agriculture strategy to look for measures to boost farmers’ incomes.
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Punjab Budget 2023 highlights
Here are the punjab Budget 2023-24 Highlights.
Agriculture and horticulture:
- A revolving fund with a $1 billion budget has been established to offer cotton seed farmers a 33% subsidy.
- a track-and-trace system to guarantee the seeds’ quality.
- For adopting DSR technology for their paddy crop, 30,312 farmers will receive an incentive of Rs 1,500 per acre.
- This fiscal year, Rs 125 crore has been allocated up for the cultivation of DSR and moong.
- Farmer electricity subsidies would cost Rs 9,331 crore in the upcoming year, up from Rs 9,064 crore the previous year.
- Horticulture has a budget of Rs 253 crore, which is twice as much as the prior year.
- 2,295 investment proposals totaling Rs 41,043 crore have been submitted to Punjab. Over 2.5 lakh individuals will benefit from this by getting jobs.
- proposed a budget for industries of Rs 3,751 crore. An increase of 19% from the prior year.
- In 2500 brick kilns, paddy straw pellets will take the place of 20% coal as fuel. The implementation of this plan will begin on May 1.
- To hasten the growth of MSMEs, 20 Rural Industrial Clusters and 15 Industrial Parks will be created.
cooperation Budget key features
- New sugar complexes will be built in Batala and Gurdaspur to process sugarcane effectively and add value.
- To process raw palm oil, Markfed will build a new refinery and vanaspati factory in Khanna.
- MARKFED will construct two new oil mills at Budhlada and Gidderbaha for processing the mustard crop in the upcoming fiscal year.
Wildlife & Forests:
The Green Punjab Mission would create 151 Nanak gardens and 68 sacred woods, with a goal of planting one crore trees through various programmes in Punjab Budget 2023–2024.
There will be a revival of the Shaheed-e-Azam Bhagat Singh State Youth Awards. Two young people will be chosen from each district, and they will get certificates, medals, and Rs. 51,000.
For sports equipment, Rs 3 crore has been set aside, while Patiala’s sports university will receive Rs 53 crore.
A provision of Rs 4,781 crore, or 11% more than the prior year, has been recommended for health and family welfare in the fiscal year 2023–24.
In Punjab, 504 Aam Aadmi Clinics have been established. A total of 142 more clinics would be launched in the new fiscal year.
In Nakodar, Kharar, and Budlada, structures for mother-child care have been built. They will start soon.
Medical Research and Education:
- For this sector, 1015 crores have been allotted. A little over 300 specialists have been hired. 81 paramedical staff members and 880 staff nurses have been hired.
- There will be two 100-seat medical colleges opening in Hoshiarpur and Kapurthala.
- Both the State Cancer Institute at Medical College Amritsar and the Cancer Care Center in Fazilka will shortly open for business at a combined cost of Rs 119 crore and Rs 46 crore, respectively.
- At a cost of Rs 100 crore, trauma centres would be built at Rajindra Hospital in Patiala and the Government Medical College in Amritsar. In the Barnala village of Thikariwal, a new nursing college will be built.
- With the purpose of filling 363 open positions in Community Health Centers and Sub-Divisional Hospitals, a special recruitment drive will be undertaken.
Punjab Budget 2023 Pdf Download
For the fiscal year 2023–2024, Punjab’s Finance Minister Harpal Singh Cheema on Friday unveiled a budget of Rs. 1.96 lakh core.
The agricultural, education, and health sectors are the key areas of emphasis in the budget. This budget is up roughly 26% from the previous one.
Finance Minister Cheema announced many programmes in the first full budget of the AAP govt, including the employment of Kisan Mitras, crop insurance to protect against weather, Punjab Young Entrepreneur, and solarization of agricultural pumps.
To download Punjab Budget 2023-24 go to official website finance.punjab.gov.in. We have also given below direct link to download budget pdf file.
FAQs related to Punjab budget 2023 -24 Highlights
FM Harpal Cheema presented 1.96 lakh crore FY 2023-24 Punjab budget.
Punjab budget is presented in Assembly by FM on Friday, 10 March 2023.
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