Historic Budget Has Set Stage For Revival Of Punjab’s Finances

Chandigarh : Terming the historic budget presented by Finance Minister S. Harpal Singh Cheema today, Power & PWD Minister Harbhajan Singh ETO said that the first full Budget of Bhagwant Mann led government has already set stage for revival of Punjab’s finances which had been brutally plundered, mismanaged and exploited by all previous regimes.

Both Congress and SAD are culprits for looting hard earned money of all Punjabis for their personal gains, Harbhajan Singh ETO said while adding that finally people of Punjab today have heaved a sigh of relief with today’s concrete and doable announcements to further prop up state coffers.

The financial resources thus created would be utilised for Punjab’s prosperity and development, he added listing out that Capital Expenditure estimates has been pegged at ₹11,782 crore which is an increase of 22% over FY 2022-23(RE).

Referring to Budget announcements related to his Power Department, the Minister pointed out that the Government had released regular subsidy payment to PSPCL this year, unlike before when PSPCL always clamored for timely releases. Likewise, in a positive step a provision of ₹7,780 crore for providing power subsidy to the domestic consumers has been made in Budget for FY 2023-24.

With sincere efforts of Hon’ble Chief Minister Bhagwant Singh Mann, Punjab has been able to start the operations at its Pachhwara Central Coal Mine, which was closed since last 7 years. With the operationalization of this mine, PSPCL would be able to save approx. ₹250 crore per annum, the Minister reiterated.

Lauding the FM for earmarking an amount of ₹9,331 crore for providing free electricity to our Annadatas in FY 2023-24, the Minister said no previous regime ever did anything substantial for our farmers and only paid lip service to them.

We have already provided free power to the tune of ₹9,064 crore in FY 2022-23 (RE) to our Annadatas, he added.Expressing his gratitude to the CM and FM for outlaying ₹26,295 crore a 13% enhancement than FY 2022-23(BE) for renovation and upgradation of state infrastructure, the Minister also thanked the FM for laying right emphasis on prioritizing infrastructural development through judicious capital spending, which he said had been missing in last governments.

The special program announced to repair 12,897 km length of Link roads in FY 2023-24 at an estimated cost of ₹1,992 crore would also aid overall development of our economy, the Minister added.


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