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.
Important Terms:
Revenue receipts:The money earned by a government or organization through its regular activities (like taxes, fees).
Revenue expenditure: The money spent by a government or organization on its day-to-day operations and services (like salaries, public services).
State’s fiscal deficit:A state’s fiscal deficit is the gap between its total revenue and its total expenditure in a given financial year.
State GDP:The total value of goods and services produced in a state in a year (like its economic size).
State Budget Deficit:The gap between a state’s income and spending in a year (like spending more than it earns).
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.
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Punjab PCS(English)
Punjab Budget 2024-25 Quiz
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1 / 5
Category:Punjab PCS
The editorial mentions promoting entrepreneurship as another potential measure for job creation. What is the MAIN challenge associated with this approach?
Answer: (b) Difficulty in securing loans for starting new businesses.
Explanation: Access to capital is a major hurdle for new businesses, as highlighted in the editorial's discussion of promoting entrepreneurship.
2 / 5
Category:Punjab PCS
The Punjab Budget 2024-25 has been met with mixed reactions from various stakeholders. Which of the following is the MOST VALID criticism of the budget, based on the information presented in the editorial?
Answer: (c) It lacks clarity on the specific measures for implementing various initiatives.
Explanation: The editorial mentions the lack of specifics in some areas of the budget, particularly regarding the implementation of initiatives. While other criticisms might be valid viewpoints, they are not directly supported by the information presented in the editorial.
3 / 5
Category:Punjab PCS
The Punjab Budget 2024-25 allocates a significant increase in the budget for the agriculture sector. What is the MOST LIKELY purpose of this increase?
Answer: (c) To address challenges faced by farmers, such as low income and water scarcity.
Explanation: The answer reflects the broader goals mentioned in the editorial, whereas the other options are not explicitly mentioned or less likely based on the information provided.
4 / 5
Category:Punjab PCS
Consider the following statements about the Punjab Budget 2024-25:
It allocates the highest budget ever to the education sector.
It emphasizes providing free power to all categories of consumers in Punjab.
It allocates Rs 10 crore for establishing "Schools of Happiness" for primary education.
Which of the above statements is/are correct?
Answer: (c) 3 only
Explanation:
While statement III is correct about allocating Rs 10 crore for "Schools of Happiness", statement I is not mentioned in the provided information, and statement II is incorrect as free power is only provided up to 300 units per month for domestic consumers.
5 / 5
Category:Punjab PCS
Skill development programs are a key initiative mentioned in the editorial to address unemployment in Punjab. What is the PRIMARY benefit of such programs?
Answer: (b) Equipping individuals with specific skills to enhance their employability.
Explanation: Skill development directly addresses the issue of employability by equipping individuals with relevant skills for the job market.
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Critically analyze the key features of the Punjab Budget 2024-25, particularly its focus on the agriculture and healthcare sectors. Do you think these measures are adequate to address the challenges faced by these sectors in Punjab? (250 Words)
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.
Question 2:
The Punjab Budget 2024-25 emphasizes job creation. Discuss the potential of various initiatives mentioned in the editorial, like skill development programs and promoting entrepreneurship, in addressing unemployment in Punjab. Suggest additional measures that could be considered. (250 Words)
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.
Relevance to the Punjab PCS Prelims and Mains syllabus under the following topics:
Punjab PCS Prelims:
Punjab Current Affairs: Questions about ongoing government initiatives and their impact on public welfare are common in Prelims. The Punjab project, being a recent and impactful development, might find mention in this section.
Punjab PCS Mains:
General Studies Paper I (History, Geography, and Society):If a question delves into the current socio-economic scenario of Punjab, understanding budgetary allocations for sectors like agriculture, education, and healthcare could be beneficial.
General Studies Paper II (Indian Constitution & Polity, Governance, and International Relations): If a question examines the role of the state government in economic development or social welfare, understanding the budget’s focus areas and initiatives could be helpful.
General Studies Paper III (Economy, Statistics, and Security Issues):If a question touches upon issues like resource allocation, fiscal policy, or development strategies in Punjab, knowledge of the budget’s allocations and goals could be relevant.
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