Farmer Scheme, Loan Waiver and Punjab Budget Jobs “Please All”
Among his main budget proposals, Badal announced the implementation of the recommendations of the Sixth Wages Commission for Government Employees from July, a ₹3,780 crore program – ‘Kamyaab Kisan Khushaal Punjab’ for farmers, another dose of agricultural loan waiver, ₹200 crore for the crop diversification program, doubling of an old age pension and an increase in the amount under the Ashirwad program and employment for young people. Chief Minister Amarinder Singh called the budget “growth oriented” while the opposition called it a “bag of lies”. Along with Badal’s speech topped with a few verses, FM also announced a free travel facility for women on the state-owned company buses on an “everyone’s” budget.
It will cost you ₹150 crore to the public treasury. During the budget speech, two Akali Dal lawmakers, Lakhbir Singh Lodhinangal and Dilraj Singh Bhundar, organized a walk to “offer nothing” to farmers who commit suicide. the “rise” of the state debt. In an announcement to state government employees demanding payment of their arrears, Badal said a provision of ₹9,000 crore has been budgeted for the Sixth Punjab Compensation Commission. Expecting the upcoming submission of the Wages Commission report, Badal said the recommendations of the wages panel will be implemented from July 1 of this year.
“I am also announcing to pay arrears, if any, in installments with the first installment paid in October 2021 and the second installment in January 2022,” Badal said in his speech.
Declaring that the welfare and prosperity of farmers was the central theme of the congressional-led government, Badal announced a new program “Kamyaab Kisan Khushaal Punjab” worth ₹3,780 crore, aimed at improving farmers’ incomes. As part of this program, it is proposed to undertake some key initiatives, including setting the base price for horticultural crops and paying a gap price as compensation, two new programs to mitigate the risks of horticultural crops. producers, an agricultural marketing innovation research and intelligence center to help farmers get better returns through marketing intelligence reports, etc., Badal said.
As this system is to be implemented over the next three years, an expenditure of ₹1,104 crore has been proposed for 2021-2022. An amount of ₹7,180 crore was provided for a free subsidy to farmers. In the past four years, the state government had granted free power worth ₹23,851 crores, Badal said. Announcing the next phase of the Congressional-led government flagship program, the “Crop Loan Waiver Program,” Badal announced an allocation of ₹1,712 crore in which ₹1,186 crore from 1.13 lakh farmers and ₹526 crore of landless agricultural workers will be abolished. Already, the state government has granted debt relief of ₹4,624 crore to 5.83 lakh small marginal producers.
The Minister also announced the increase in the old-age pension of ₹750 per month at ₹1,500 per month and increase an amount under the Ashirwad plan from 21,000 to ₹51,000, implying an additional expenditure of ₹2,000 crores and 140 crores respectively. These two devices will be implemented from July. Under the Ashirwad regime, financial assistance is provided for the marriage of women from listed castes, daughters of widows of any caste and SC widows. Both of these were part of the Congress ballot promises before coming to power in 2017. In the budget, Badal said the state government intends to gradually recruit vacancies for a lakh.
“The government will fill 48,989 positions in the first phase and complete the remaining recruitments according to the vacant post available during 2021-2022,” he said. facilitate employment for another young person of 10 lakh next year and for whom the budgetary allowance of ₹428 crore has been made, he said. To promote the Punjabi language, Badal also offered to double the money for ₹20 lakh for the Punjabi Sahit Ratan award and ₹5 lakh to ₹10 lakh for the Shiromani Prize awarded to various writers, poets, musicians, journalists, etc.
In tribute to the freedom fighters, the FM also proposed to increase the monthly pension of ₹7,500 to ₹9,400. Give impetus to urban development, a 68 percent increase in the allocation for urban infrastructure to ₹7,192 crore was made for the next fiscal year. A sum of ₹3,822 crore has been set aside for strengthening health infrastructure, Badal said, adding that the unprecedented COVID-19 pandemic has only underscored the importance of health infrastructure and related services. A 40 percent increase in the allocation for water resources to ₹3,214 crores were made as the state government pledged to increase the canal’s water facility.
Despite the drastic impact of the lockdown due to the COVID-19 pandemic, the state has kept all of its commitments without resorting to an overdraft, he said. Badal proposed a revenue gap of ₹8 622 crore and budget deficit of ₹24 240 crore for the next fiscal year. Regarding the outstanding debt, Badal said the debt is likely to be ₹2 73 703 crore at the end of March 2022 against ₹252,880 crore for March 2021. He said he had tried to limit borrowing to 4% of the state’s gross domestic product. Badal projected revenue from ₹95,258 crore in 2021-22 against ₹72,042 crores in 2020-21.
State expenses, salaries, pensions, etc. should increase by ₹59,796 crores. Speaking to the media later, Badal said the state would get ₹10,000 crore as a subsidy for the Centre’s revenue deficit and also the state’s share in central taxes. Badal criticized the Center for Agricultural Laws and said he was devoting “this budget to Indian farmers and salutes their inspiring struggle which is already on the way to achieving legendary status.”
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