Chandigarh, 5 march (press ki taquat bureau): Punjab’s finance minister, Harpal Singh Cheema, unveiled a budget of ₹2,04,918 crore for the fiscal year 2024-25. The revenue receipts are estimated at ₹1,03,936 crore, with own tax revenue contributing ₹58,900 crore and non-OTR at ₹11,246 crore. Central taxes share is set at ₹22,041 crore, and grant-in-aid from the Centre at ₹11,748 crore. The revenue expenditure for 2024-25 is projected to be ₹1,27,134 crore.
The outstanding debt is expected to reach ₹3,74,091 crore by the end of FY25, up from ₹3,43,626 crore in the previous year. Cheema allocated ₹13,784 crore for the agriculture sector and ₹16,987 crore for education in his third consecutive budget presentation.
The proposed Malwa canal project aims to reduce groundwater dependency and optimize Punjab’s share of Beas-Sutlej river water during the Rabi period, covering approximately 1.78 lakh acres in Bathinda, Faridkot, Ferozepur, and Muktsar districts. Additionally, ₹575 crore is allocated for crop diversification schemes, with a significant focus on supporting farmers through power subsidies and soil-water conservation initiatives totaling ₹9,330 crore and ₹194 crore, respectively.
