Punjab budget proposes to set-up Commission for Traders

Chandigarh, June 27 (KNN) Punjab finance minister Harpal Singh Cheema in AAP government’s first budget, laid down the provision to setup a special commission with traders and businessmen as its members.

Through the commission, the state government aims to provide a platform to all the stakeholders for effective decision-making and policy formulation.

The finance minister on Monday presented Rs 1, 55,859.78 crore budget and announced that the state’s outstanding debt would rise to Rs 305361.44 crore in the FY23.

The finance minister proposed a budgetary allocation of Rs 11,560 crore for the agriculture sector and Rs 6,947 crore for free power to agriculture tubewells.

A sum of Rs 450 crore will be given as incentive to paddy growers who adopt non-conventional method of direct seeding rice, aimed at saving groundwater by at least 20 per cent.

To augment its covered capacity, new godowns would be set up by Markfed at 13 locations under the Nabard-assisted new project for the storage of central pool wheat stocks and Rs 56 crore is proposed for Markfed for trouble-free moong procurement.

A sum of Rs 1,170 crore will be given to the cooperative sector, an increase of 35.67 per cent compared to the last financial year.

It pledged Rs 688 crore to bail out the Punjab State Cooperative Agricultural Development Bank (PSCADB) and clear its liabilities.

To develop the Kandi area from Chandigarh to Pathankot, a highway between the two cities along the Shivaliks would be developed.

To keep the corruption in check, the chief minister field offices will be set up in each district. A tax intelligence unit will be set up to check revenue leakage.

The budget outlay for the health sector with an allocation of Rs 4,731 crore is an increase of 23.80 per cent over that of FY 2021-22.

The State government will provide 300 units of free electricity each month for every household in the state from July 1.  (KNN Bureau)