Punjab Budget 2014-15 has Focus on youth earmarked Rs 500 crores for skill development and Rs 100 crores to set up drug rehabilitation centers in various regions, and from fresh levy taxes restraint.
Budget 2014-15 presented by Parminder Singh Dhindsa Finance Minister of Punjab State Government submitted to the state legislature today’s budget of Rs 73,593 crore.The effective size of the national budget was 58,593 crores, he said.
Minister expects Rs 4,252.63-crore revenue this fiscal deficit will be 1.16% GSDP.
The State Government has proposed to set up drug rehabilitation centers, the cost of one billion rupees in each district.
“We are confident that in the next two years, we will eliminate this scourge from out of state”.
Finance Minister has focused on the use and training capacity of Governments and the private sector to engage renowned private training institutions to provide skills youth.
“State government will be included in the period 2014-15, Skilling about three lakh youth in their efforts to over 500-crore costs to make,” he said.
To provide free electricity to farmers, BPL and SC series, the state government in last year’s financial allocation Rs 5,300 crore as 2014-15 Rs 4,815 crore as electricity subsidies, said Dhindsa.
Dhindsa estimated total revenue income, including their tax Rs 44,893.68 crores as against Rs 49,146.31 crore in 2014-15 income and expenditure.
Notably, the state government failed to achieve Rs 1,746.56-crore revenue deficit targets for 2013-14 deficit has soared to Rs 5,259.06 crores in 2013-14 in accordance with the revised estimates.
With the projected Rs 11,496.25 crores, including interest payment and loan repayment of the total debt service, the country’s outstanding debt (excluding funds) has projected Rs 1,05,483.37 crore.
The size of the annual plan is expected to be Rs 20,100 crore, an increase of 25% from Rs 16,123 crore in 2013-14.
Out of the annual plan, 16.08% of the funds were earmarked for the power sector, followed by transportation of 13.38% while 9.79% and 6.40% of the capital has remained rural development and agriculture and related activities for every budget.
For its ambitious Atta – Dahl’s Food Program Project Grant, the state budget provision of Rs 400 crore.
“In the annual plan 2014-15 budget Rs.400 crores have been allocated to the new plan and the estimated 8,70,000 tons of Dal Atta, wheat and 75,000 tons of beans to be distributed during the year,” Dhindsa said.
“In order to focus on government programs for funding from the results of the efforts, has decided to implement national annual program performance year budget. NABCON, NABARD consulting department is working to prepare a blueprint program,” Dhindsa said budget.
For the electricity sector, Rs 3,200 crores have been earmarked expenditures, including Rs 1,150 crore – transmission, Rs 75 billion rupees – power generation, allocation of Rs 1,250-crore and Rs500 crore for the re-structured AAccelerated Power Development and Reform Programme (APDRP), said Dhindsa.
Rs 3,024 crore in 2014-15 will amount intended for road infrastructure, including Rs 1,291 crore through PIDB an investment, he said.
Rs 8,552 crore money; the government should improve in Punjab irrigation infrastructure investments over the next three years, said Parminder Singh Dhindsa Finance Minister.
He added that Rs 3,000 crores will be spent over the next three years in the modernization of the canal system, benefiting 92,100 rupees acre area in Punjab, Rs 2,762 crores are required for water, canal watercourse lining provide uninterrupted, efficient and equitable distribution of farmers.
“Rs 96 billion rupees of money should be spent to solve the problem of waterlogging in Mukatsar Sahib, Fazilka, Faridkot and Ferozepur district in the next three years to recover the Rs 20,000-acre area,said Parminder Singh Dhindsa Finance Minister.