No new taxes in AAP govt's maiden Budget in Punjab
Chandigarh: The Aam Aadmi Party government in Punjab on Monday presented its maiden budget of Rs 1.55 lakh crore with no new taxes and the focus of the budget has been on the education, health and agriculture sectors.
Though the AAP government has not made any provisions or announcements for implementing its promise of Rs 1,000 allowance for each woman over 18, the government reiterated its commitment to provide 300 units of free power to all.
The government proposes to earn Rs 95,378.28 crore this fiscal, against an expenditure of Rs 1,55,859.78 crore. This would mean a revenue deficit of Rs 12553.80 crore.
Since no new tax has been announced and the revenue receipts are projected to increase by almost Rs 14,000 crore over 2021-22, Finance Minister Harpal Cherma said revenue augmentation would be through excise policy, which would yield the state a revenue increase of 56 per cent. Buoyancy in GST collection will get state an increased revenue of 27 per cent over last year. And increase in non-tax revenue by 11 per cent. Meanwhile, Chief Minister Bhagwant Mann hailed the tax-free budget of the state government for the year 2022-23 presented by the Finance Minister Harpal Cheema in Vidhan Sabha and described it as a roadmap for New Punjab.
"I congratulate Finance Minister Harpal Cheema for presenting the historic budget made in consultation with the common man" he said.
Terming the Budget as a balanced, development oriented and reflective of pro-people policies of the state government, the Chief Minister, in a statement issued, said that this people's budget has been made to bring revolution in sectors of education, health, agriculture and commerce. He said that the government will soon fulfil all the guarantees promised with the people. The Chief Minister said that budget aims at serving the weakest of the weak and poorest of the poor sections of society in the right earnest. He said that the budget was the outcome of the pragmatic approach of the state government to achieve the objective of overall development and progress of the state and prosperity of its people in a holistic manner.
Mann further said that the budget will certainly boost the tempo of all-round development of the state besides empowering women and weaker sections of the society.
The Chief Minister said that budget for technical education has been enhanced by 48% for opening new vistas of self employment for youth and Rs 9,449 crore has been kept for strengthening law and order of the state.
