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Punjab Finance Minister Harpal Singh Cheema presented the State Budget for 2023-24 in the Vidhan Sabha here on Friday. Finance Minister Cheema proposed a budget of over Rs 1.96 lakh crore for the financial year 2023-24. He said that the Gross State Domestic Product (GSDP) of Punjab for the financial year 2023-24 would be Rs 6,98,635 crore. Cheema told the House that the Punjab government would soon come out with a new agricultural policy for which a committee of experts had been constituted. He said that the Punjab government has proposed an allocation of Rs 1,000 crore for crop diversification. Along with this, crop insurance scheme will also be started soon.
This is the first full budget presented by the AAP government.
This is the first full budget presented by the AAP government. After coming to power in March 2022, the AAP government passed the vote-on-account on March 22 and then presented its budget in June for the rest of the year. Cheema told the assembly that education and health sector would be given priority by the government. Talking about the health sector, he said that so far 10.50 lakh people have been treated in the ‘Aam Aadmi Clinic’ in the state. He said that 26,797 jobs have been given so far by the Chief Minister Bhagwant Mann’s government.
Heavy expenditure on electricity subsidy
The Finance Minister proposed Rs 13,888 crore for the agriculture and allied sector, an increase of 20 per cent. Cheema said that a free power subsidy of Rs 9,331 crore has been earmarked for the agriculture sector for 2023-24. An amount of Rs 74,620 crore has been proposed for committed expenditure, which is 12 per cent higher than that of FY 2022-23. He said that the government will soon bring a new agriculture policy for which a committee of experts has been formed.
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