Punjab Budget: No new taxes, 300 units of free power

With no new taxes imposed, Punjab Finance Minister Harpal Singh Cheema on Monday presented the Aam Aadmi Party (AAP) government’s maiden budget for 2022-23 fiscal, with a total outlay of Rs 1,55,859.78 crore and a revenue deficit of Rs 12,553.80 crore.

Putting emphasis on education, health and agriculture, the government’s focus to mop up resources would be from excise revenue pegged at Rs 9,648 crore and fiscal prudence. “We will cut corners and exercise fiscal prudence. Previous governments were known for their profligacy and we would ensure not a paisa is wasted… We have saved Rs 20 crore of the state exchequer by doing away with multiple pensions of state legislators. This way we will exercise austerity measures to ensure that people’s money went back to people.”