Punjab Unveils Landmark Budget for “Rangla Punjab” Vision

Punjab Unveils Landmark Budget for “Rangla Punjab” Vision

In a significant milestone for Punjab, Chief Minister Bhagwant Singh Mann lauded the Budget 2024-25 presented by Finance Minister Harpal Cheema in the Legislative Assembly. This budget, exceeding two lakh crore rupees for the first time, signifies a crucial step towards realizing the vision of ‘Rangla Punjab’ through equitable and comprehensive development across the state.

Chief Minister Mann commended the budget’s focus on key sectors such as health, education, power, infrastructure, industry, sports, and social security. He emphasized that these initiatives would pave the way for accelerated development and ensure the welfare of all segments of society, particularly the marginalized and underprivileged.

With a notable emphasis on fiscal prudence and resource mobilization, the budget reflects a clear vision and determination to drive Punjab towards prosperity. Notably, tax revenue growth has surpassed previous years’ rates, indicating a robust economic strategy and commitment to effective implementation.

In line with the government’s pledge to transform Punjab into ‘Rangla Punjab,’ significant allocations have been made for crucial sectors like agriculture and ancillary industries. Measures such as crop diversification schemes and electricity subsidies for agriculture underscore the government’s commitment to farmer welfare and sustainable agricultural practices.

Key Highlights:

• Focus on All Sectors: The budget emphasizes balanced development across various sectors, including healthcare, education, power, infrastructure, industry, and agriculture.
• Social Welfare and Farmer Support: Special attention is given to social security schemes, with ₹13,784 crore allocated for agriculture and allied industries. An additional ₹575 crore will support crop diversification, and ₹9,330 crore is earmarked for electricity subsidies for farmers.
• Education Boost: The budget prioritizes education, allocating ₹16,987 crore (11.5% of the total expenditure) for improvements like “Schools of Eminence,” “Schools of Brilliance,” and “Schools of Applied Learning.”
• Improved Healthcare: A budget of ₹5,264 crore aims to enhance healthcare standards and accessibility for citizens.
• Fiscal Responsibility: The budget emphasizes economic prudence and increased revenue generation through resource mobilization.

Moreover, the proposed Malwa Canal Project holds promise for enhancing irrigation efficiency and reducing groundwater dependency in key districts, thereby bolstering agricultural productivity and water management efforts.

Education and healthcare sectors have received substantial allocations, reflecting the government’s dedication to nurturing human capital and ensuring access to quality services for all residents. Investments in Schools of Eminence, Schools of Brilliance, and health infrastructure demonstrate a holistic approach towards fostering educational excellence and healthcare accessibility.

With an eye towards promoting industrial growth and revitalizing the agricultural economy, the budget lays the groundwork for fostering economic resilience and prosperity. Chief Minister Mann expressed optimism that this budget would serve as a catalyst for industrial revival and agricultural advancement, propelling Punjab towards new heights of development and progress.

In essence, the Budget 2024-25 represents a significant milestone in Punjab’s journey towards inclusive growth and prosperity. By prioritizing public welfare and embracing economic prudence, the government aims to address the aspirations of the people and establish Punjab as a beacon of development and opportunity.

Overall Impact:

The Chief Minister expressed confidence that this budget will pave the way for the state’s overall development and prosperity. He expects it to revitalize the industrial sector, strengthen the agricultural economy, and fulfill the aspirations of Punjab’s people. He underscored the budget’s focus on public welfare, particularly for underprivileged sections, and its role in achieving all-round development.