The Punjab Finance Minister, Harpal Singh Cheema, presented the state's budget for the financial year 2024-25 with an allocation of over Rs 2 lakh crore. The government emphasized health and education as primary focus areas. The outlay is 2.93% more than the 2023-24 (revised estimates) of ₹1,99,076 crore. In the 2023-24 budget estimates, the finance minister envisaged spending ₹ ₹1,96,462 crore. The total revenue receipts have been projected to be ₹1,03,936 crore in FY 25, of which the own tax revenue (OTR) accounts for ₹58,900 crore. The state’s non-OTR has peen pegged at ₹11,246 crore. The share of central taxes has been pegged at ₹22,041 crore and grant-in-aid from the Centre at ₹11,748 crore.
Sector-wise Allocations:
Agriculture:
Allocation: Rs 13,784 crore
Initiatives: Crop diversification schemes and the proposed Malwa canal project.
Education
Allocation: Rs 16,987 crore
Initiatives: Transformation of schools, establishment of Schools of Brilliance, Schools of Applied Learning, and Schools of Happiness.
Health:
Allocation: Rs 249 crore
Initiatives: Strengthening Aam Aadmi Clinics.
Other Initiatives:
Power Subsidy for Agriculture: Allocation of Rs 9,330 crore.
Employment and Skill Development: Budgetary outlay of Rs 179 crore.
Infrastructure Development
Road Connectivity: Rs 2,695 crore earmarked.
Aviation Infrastructure: Procurement of aircraft and simulators.
Education Infrastructure: Hostel construction and infrastructure development at educational institutions.