Punjab’s budget for the financial year 2021-22

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Impact of Peasant Movement! Big announcement by Captain Sarkar for farmers

Captain Sarkar has taken a gamble to please the people in view of next year’s Assembly elections. In the budget presented on Monday, Finance Minister Manpreet Badal has taken special care of the farmers while presenting the budget. The impact of the peasant movement on this budget was clear.

An amount of Rs.17051 crore has been provided in the budget for the welfare of the farmers. Under the Crop Debt Waiver Scheme, a total of Rs. 1712 crore has been earmarked in the next phase for the year 2021-22.

A scheme of Rs. 3780 crore for farmers ‘Successful Farmers Prosperous Punjab’ has been announced. A budget of Rs. 1104 crore has been provided under this scheme for the year 2021-22.

Under this new scheme a state-of-the-art vegetable center at village Gobindgarh in Fazilka at a cost of Rs. 10 crores, at least one horticultural estate in each district at a cost of Rs. Have gone

Rs 200 crore has been earmarked for agricultural diversification and Rs 40 crore for crop residue management. Similarly, Rs. 4,650 crore has been provided in the budget for providing free electricity to the farmers. 300 crore for assistance to sugarcane growers and Rs. 60 crore for expansion of Gurdaspur and Batala sugar mills. Similarly, Rs. 452 crore has been provided for 29 new canal-related schemes.

Even under Captain Sarkar’s rule, the financial condition of Punjab did not improve much. Punjab’s debt burden has become even heavier. The state’s debt is expected to increase to Rs 2,73,703.88 crore in 2021-22, which is 45 percent of GDP.

According to the data, during the tenure of the present Congress government, Punjab (Punjab budget 2021) has a net debt of about Rs 91,000 crore. An additional loan of Rs 20,823 crore is to be taken for the development of the state during the coming financial year.

Meanwhile, Finance Minister Manpreet Badal on Monday presented a budget with a fiscal deficit of Rs 8622.31 crore. The financial receipts for the financial year 2021-22 are estimated at Rs 95,257.60 crore while the financial expenditure is estimated at Rs 1,03,879 crore. The fiscal deficit is projected to be 3.99 percent of GDP.

The Punjab Government has earmarked Rs. 38,828 crore in the budget for the repayment of interest on the loan while a new loan of Rs. 35,041 crore is to be taken. The implementation of the Sixth Pay Commission would impose a new burden of Rs 9,000 crore on the state and the recommendations of the commission have been announced to be implemented from July 1, 2021.

After all, Manpreet Badal claimed that Punjab had emerged from the test quagmire and had largely overcome the recession. The Finance Minister said that the Kovid epidemic has eroded the revenue of the state.

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