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Expansion
The Aam Aadmi Party-led Punjab government will present its first budget on Monday. The government is focusing on education, health and agriculture in the budget. In these basic areas, the new government has decided to allocate 15 to 20 percent more budget than the previous governments. To promote sports among the youth of the state, the government will build stadiums in every district.
Aam Aadmi Party is going to present this year’s budget on Monday. According to officials of the Finance Department, in this budget, the new government has substantially increased the allocation for education, health and agriculture sectors. Officials have projected the allocation in these sectors to be around 15-20 per cent as compared to the last few years.
If we look at the data of the last six years, it is known that only 1.2 or 2.0 percent of the budget allocation was in the education, health and agriculture sectors. Till now the highest percentage of fund allocation in the education sector was just 1.2 per cent of the total budget. Whereas the health sector had only 1.25 percent and the agriculture sector had 2.1 percent of the total budget. The special thing in this is that in these basic amenities areas, the highest allocation was made in the election year budget (2021-22). The first budget of the AAP government will also focus on increasing the revenue of the state through collection of taxes in excess of excise duty and sale of minerals.
Budget allocation will be done for these guarantees
The budget proposals to be tabled by Finance Minister Harpal Singh Cheema will also include allocations to meet AAP’s guarantees. These include major guarantees, 300 free power units, purchase of moong, maize at MSP as well as compensation amount for farmers going for direct sowing.
Not in favor of imposing new tax
In the budget, Chief Minister Bhagwant Mann is not in favor of imposing any new tax on the people. This is the reason why there is every possibility that the government will not impose any new tax on the people in the budget. However, in this financial year, the state is expected to suffer a loss of Rs 9000 crore in GST compensation as compared to the previous year.
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