What is the news?

 

• • Punjab FM presents ₹2.04 lakh crore budget for 2024-25

 

What is the Total Budget?

 

• • Rs 2,04,918 crore

 

Revenue Projections:

 

• • Total Revenue Receipts: Rs 1,03,936 crore
  • Own Tax Revenue: Rs 58,900 crore
  • Share of Central Taxes: Rs 22,041 crore
  • Grant-in-Aid from Centre: Rs 11,748 crore

 

Additional Points:

 

• • The budget focuses on economic growth, with a projected GSDP (Gross State Domestic Product) growth of 9% for FY 2024-25.

• • The government’s commitment to providing doorstep delivery of government services (43 services) continues.

 

Agricultural Sector:

 

Punjab Budget 2024-25 Highlights (from official sources):

 

The Punjab Budget for 2024-25 was presented by Finance Minister Harpal Singh Cheema on March 4, 2024. Here are some key highlights from the official budget:

 

Focus Areas:

• The FM announced that the health and education are the focus areas of the government in the budget.

 

Education:

 

• Allocated Rs 16,987 crore, representing 11.5% of the total budget. This includes:

 

SCHOOLS OF EMINENCE:

• • 14 Schools of Eminence have been opened and 118 Government schools will be transformed into modern institutions. A ₹100 crore budget is recommended for this purpose in FY 2024-25.

SCHOOL OF BRILLIANCE

• • Turning 100 government senior secondary schools into “Schools of Brilliance”. An initial ₹10 crore allocation has been made in FY 2024-25 for this purpose. This programme aims to improve education and turn rural schools into 6–12 learning centres.

SCHOOL OF APPLIED LEARNING

• • To help students gain technical skills and earn a living, we propose establishing a “School of Applied Learning” with an initial budget of ₹10 crore in FY 2024-25. In the first phase, 40 schools would build high-tech vocational labs.

SCHOOL OF HAPPINESS

• • To create a loving learning environment for 3–11-year-olds, we propose turning 100 primary government schools into “Schools of Happiness”. Well-ventilated classrooms, play areas, resource rooms, and activity corners would be prioritised. In FY 2024-25, ₹10 crore was allocated for the scheme’s commencement.

 

MISSION SAMRATH

• • The government plans to establish “Mission Samrath” to teach essential skills to elementary and upper primary pupils, with a proposed budget of ₹10 crore in FY 2024-25.

 

Agriculture (₹13,784 crore allocated):

 

• • This sector received a 12.74% increase compared to the previous year’s budget.

 

Specific details on how this increase will be used might not be available yet, but common themes for budget allocations in agriculture include:

 

• • Subsidies: This could involve providing subsidized seeds, fertilizers, or farm equipment to farmers.

• • Irrigation: Investments in improving irrigation infrastructure or promoting water conservation techniques.

• • Market Access: Initiatives to help farmers get better prices for their produce or improving market linkages.

• • Crop Diversification: Encouraging farmers to move away from water-intensive crops like paddy towards more sustainable alternatives.

 

Healthcare (₹5,264 crore allocated + ₹1,133 crore for Medical Education and Research):

 

• • While specifics might be missing from the retrieved official document, the increased allocation signifies the government’s focus on improving healthcare.

 

Potential areas of focus could include:

 

• • Upgrading infrastructure: Building new hospitals or renovating existing ones, equipping them with advanced medical facilities.
  • Strengthening healthcare workforce: Hiring more doctors, nurses, and other healthcare professionals, potentially with incentives for rural postings.
  • Affordable healthcare: Initiatives to make healthcare more accessible and affordable for citizens, potentially through insurance schemes or subsidized treatment programs.
  • Public health initiatives: Focus on preventive healthcare, disease control programs, and promoting healthy lifestyles.

 

Power (₹7,780 crore allocated):

 

• • The budget continues the free power supply of 300 units per month to domestic consumers.

• • Additionally, ₹3,367 crore is specifically allocated for subsidized power to the industrial sector. This could help attract new businesses and boost manufacturing activity.

 

Employment Generation:

 

While details are yet to emerge, the government has expressed its commitment to creating employment opportunities. Some possibilities include:

• • Skill development programs: Equipping youth with relevant skills to make them more employable.

• • Promoting entrepreneurship: Providing financial support, incubation facilities, or training programs to encourage new business ventures.

• • Public sector job creation: Filling vacant positions in government departments or launching new initiatives that require additional workforce.

 

Infrastructure:

 

• • The new Malwa canal project aims to cover approximately 1,78,000 acres, benefiting farmers in Bathinda, Faridkot, Ferozepur and Muktsar districts.
  • Malwa canal project, which aims to reduce reliance on groundwater and optimise under-utilised Punjab’s share of Beas-Sutlej river water during the Rabi period.

 

QuizTime:

 

Mains Questions:

 

Model Answer:

 

Key features of the Punjab Budget 2024-25:

• • Increased allocation for agriculture: Aims to address farmer concerns, potentially through subsidies, irrigation improvements, market access initiatives, and crop diversification.
  • Focus on healthcare: Increased allocation signifies commitment to improvement, potentially through infrastructure upgrades, workforce strengthening, promoting affordable healthcare, and public health initiatives.

 

Challenges in agriculture:

• • Low farm incomes: Despite the increased budget, addressing low farm income requires tackling issues like high input costs, lack of diversification, and inadequate market access.
  • Water scarcity: Sustainable water management practices and exploring alternative crops are crucial.

 

Challenges in healthcare:

• • Inadequate infrastructure and manpower: Shortages in doctors, nurses, and hospital facilities need to be addressed.
  • Affordability of healthcare: Expanding insurance coverage and subsidized programs can improve access.

 

Adequacy of measures:

• • The budget provides a starting point, but its effectiveness depends on efficient implementation and addressing specific challenges within each sector.
  • Monitoring and evaluation are crucial to assess the impact and make necessary adjustments.

 

Model Answer:

 

Potential of mentioned initiatives:

• • Skill development: Equipping youth with relevant skills can enhance their employability and open doors to new job opportunities.
  • Promoting entrepreneurship: Encouraging new businesses can create jobs and contribute to economic growth. However, providing adequate support and fostering a conducive environment for startups is crucial.

 

Additional measures:

• • Focus on sectors with high job potential: Investing in sectors like IT, renewable energy, and tourism can create new job avenues.
  • Public-private partnerships: Collaborating with the private sector can leverage expertise and resources for job creation initiatives.
  • Promoting micro, small, and medium enterprises (MSMEs): Supporting MSMEs can create significant job opportunities as they are major employers, especially in rural areas.
  • Enhancing employability through soft skills training: Equipping individuals with communication, problem-solving, and teamwork skills can improve their chances of securing employment.

 

Conclusion:

• • The Punjab Budget 2024-25 highlights the government’s focus on addressing crucial areas like agriculture, healthcare, and employment generation. While the presented initiatives hold potential, their effectiveness hinges on efficient implementation, addressing specific challenges, and exploring additional measures for sustainable development and progress.

 

Remember: These are just sample answers. It’s important to further research and refine your responses based on your own understanding and perspective.