Key takeaways from Punjab Budget 2020 || Punjab Budget 2020-21

Punjab Budget 2020: Punjab Finance minister Manpreet Singh Badal on Friday presented the state’s budget of Rs 1.54 lakh crore in the Punjab Vidhan Sabha. It is the fourth budget presented by him for the Captain Amarinder Singh-led Punjab government.

Punjab Budget 2020 highlights:

  • The Finance Minister announced that the retirement age of employees will be reduced to 58. Also, he said that the practice of giving extension in service will be withdrawn.
  • State’s debt is expected to rise up to Rs 2.48 lakh crore by March 2021.
  • The farm labourers will get Rs 520 crore for the debt relief in 2020-21.
  • Rural Development fund fee and market committee fee will be reduced to just one percent (currently a total of four percent).
  • CLU (Change Land Use) will not be charged by the investors for the next two years.
  • The revenue receipts for 2020-21 will now be Rs 95,716 crore, as compared to Rs 73,975 crore in 2019-2020.
  • The government will release 6 percent of DA arrears. Meanwhile, the pay commission report will be implemented. Also, it has been accounted for in the budget.
  • The expenditure on salaries and pensions has been increased by Rs 4,000 crore. It has been done to release the pending arrears of DA and for the new pay scales that will be announced.
  • The state has been in primary surplus in 2020, Manpreet Badal said.
  • The GSDP ratio has been reduced to 39.83 percent now. The FM said that this would be reduced to 38.53 percent by March 2021.
  • Punjab has given Rs 10,530 crore as debt servicing till March.
  • Revenue receipts increased by 18.96 percent from 2019-2020 to 2020-21.
  • Rs 4,675 crore allocated for the health sector.
  • Rs 12,526 crore allocated for Agriculture sector
  • Rs 13,092 crore for the Education sector.
  • 16 government departments have prepared a 4-year strategic action plan and a release of funds to these departments will be based on it.
  • Rural development has been given Rs 3,830 crore while the urban development got Rs 5,026 crore.
  • ‘Paani Bachao Paisa Kamao’ scheme would be extended for the direct benefit transfer of electricity to the agriculture sector.
  • New agriculture colleges will be set up at Gurdaspur and Balachaur.
  • Rs 8,275 Power subsidy to farmers in 2020-21.
  • Horticulture estates would be set up at Amritsar, Kotkapura, Patiala, and Pathankot.
  • Rs 20 crore allocated for crop residue management in an order to give subsidy to the farmers who do not burn their stubble.
  • Rs 100 crore for smartphones distribution to youth.
  • Rs 324 crore allocated for an employment generation.
  • Rs 148 crore given to skill development.
  • New cattle feed plant to be commissioned at Kapurthala.
  • Rs 2,000 crore to be given for crop loan waiver.
  • Three industrial parks would be set up at Mattewara (Ludhiana), Bathinda and Rajpura. Meanwhile, one more park for pharma companies will be set up at Wazirabad in Fatehgarh Sahib.
  • Rs 25 crore has been announced for the starting celebration for the 400th birth anniversary of Guru Teg Bahadur.
  • 54-km road to be built from Anandpur Sahib to Banga and will be named after Guru Teg Bahadur.
  • The funding of the social security scheme will be hiked from Rs 2,165 crore to Rs 2,388 crore.
  • Meanwhile, the old age homes would be established in each district of Punjab.
  • Rs 100 crore allocated for the construction of 4,150 additional classrooms.
  • Rs 75 crore allocated for repair of the unsafe school buildings.
  • 259 government smart schools will get 10 KW solar plants.
  • Rs 100 crore has been announced for digital education in government schools.
  • Education in government schools would be free of cost up to class 12. Earlier, education till class 8 was free. Only girl students had access to free education till class 12. Now, all the children will get free education.