Mixed reactions to AAP govt budget
There has been a mixed response to the fourth budget presented by the Bhagwant Mann led-AAP government in state from the industry, hoteliers, agriculturists and the common people.
Gunbir Singh, former chairman, CII Punjab, said in his observations on the state budget that the country had moved from being a 2.1 trillion dollar economy in 2015 to a 4.2 trillion dollar economy in 2025. The progress of Punjab must be measured against the bar that the nation has set. Considering that Punjab has fallen from number one rank to being 18th state in the country, the government needs to do much more. This budget is but a proposed account statement in the third year of AAP governance, and no radical change seems to be feasible given the financial health of the state which is today the second most indebted state in India at 46.6 per cent debt-to-GDP ratio. “Where will Punjab find funds for the change required is the question to be asked,” he stated.
Anil Vinayak, a retired banker, said the budget of Rs 2.36 lakh crore pegged the state’s financial liability at Rs 3.75 lakh crore and it was nothing short of fiscal jugglery. With no new tax imposed and continued dose of freebies, the decrease in capital expenditure would affect infra development in the border state, negating this year’s theme of ‘Badalta Punjab’. With meagre revenue income, the government should take urgent measures to curtail expenditure like advertisements, VIP security expenses and put a brake on unnecessary office expenditure or ready be to face financial anarchy.
Punjab Pradesh Beopar Mandal president Piara Lal Seth and general secretary Sameer Jain said that Punjab Finance Minister Harpal Singh Cheema presented a budget of Rs 2.36 lakh crore which is about 15 per cent more than last time. Only 0.001 per cent of the total budget was allocated for trade and industry, which is almost negligible. For a Rangla Punjab, the government should allocate at least two per cent of the budget for trade and industry, they demanded.
Ravinder Singh Brahmpura, vice-president of the Shiromani Akali Dal and former MLA from the Khadoor Sahib constituency, condemned the state budget as a blatant disregard for the needs of the common people.
According to Amritsar Vikas Manch, a city-based NGO, two months ago, the Manch submitted a document on the demand of Finance Minister Harpal Singh Cheema, highlighting the economic, religious, tourism and horticultural aspects of the holy city. However, a majority of these demands were ignored. Some of these were land acquisition for the Patti-Makhu railway line, a parking facility for 5,000 cars in Jahajgarh, relocation of the city’s bus stand, bus connectivity between Sri Guru Ramdas Jee International Airport and cities of Punjab.
Sundeep Khosla, president, Bal Kalan Industrial Welfare Association, urged the government to clear the incentives announced in the industrial policies of 2017 and 2022. Notably, the seniority list for the 2017 policy is available on the Invest Punjab portal, but the same list for the 2022 policy is missing.
However, the move to set up a technology extension centre in Amritsar was welcomed by all
Furthermore, during a recent interview, the Industry and Commerce Minister announced upgrade of five focal points, including Amritsar. Unfortunately, this was not mentioned in the budget.
Additionally, in a meeting with Ludhiana industrialists, CM Bhagwant Mann and AAP convener Arvind Kejriwal announced to remove the 0.25 per cent mortgage charges on bank loans. Regrettably, this announcement was also missing from the budget.
