Mixed response from traders, healthcare, sports sectors
The state Budget for the financial year 2025-26 was presented on Wednesday by the Finance Minister which received a mixed response from the local industry, health and sports sectors. While some maintained that there were a few good initiatives taken by the state government to boost the industry, many others feel that there is nothing positive for the same in the Budget.
Talking to The Tribune, president of the United Cycle and Parts Manufacturers’ Association (UCPMA) Charanjit Singh Vishkarma said the industry had requested the government to abolish 5 per cent increase in property tax, which is not mentioned anywhere. “We had demanded that GST returns should be given to us in a time-bound manner but no step is taken in this regard. We are already paying high power rates and the government has claimed to decrease it but when and how it will happen, we will have to wait and watch”, said Vishkarma.
“As far as the Budget is concerned, we are not getting anything for ourselves,” he said.
Voicing similar views, vice-president of Apex Chamber and head, Textile Division, FICO, Ajit Lakra, said Punjab was the second highest debt-ridden state in the country after Arunachal Pradesh. “There are no loan waivers, nothing given for expansion of the industry. The huge amount allocated for eradicating drugs from the state would be helpful if the state had sufficient number of police personnel to keep a check on law and order, drug addicts, etc. We are not much excited over the present Budget,”Lakra said.
The World MSME Forum opposed the Budget 2025-26 presented by Finance Minister Harpal Singh Cheema as it said it was merely old wine in a new bottle and would badly affect the industrial sector in the country. Badish Jindal, forum president, said the budget for industries reduced from Rs 3,449 crore to around Rs 3,425 crore in this Budget.”The Budget of village and small industries reduced from Rs 273 crore to Rs 121 crore during the past two years. The power subsidy to industries also reduced from Rs 2,130 crore to Rs 2,017 crore. The government is claiming increase in investment but the incentive of power on investment decreased from Rs 1,121 crore to Rs 875 crore during the past two years”, he said, adding that the Chief Minister was holding meetings with the industry during the past few days and was assuring a big relief but the Budget seems to be a betrayal with the industries. The government failed to provide any support to the existing industries which were passing through a recession, he said.
Meanwhile, Pankaj Sharma, president, Association of Trade and Industrial Undertakings (ATIU), said the government had done well by sanctioning Rs 120 crore for the MSME sector. In the recently held “Sarkar Sankar Milni” industrialists had asked the Chief Minister to sanction funds for the uplift of the R&D Centre, auto-parts centre, etc.
“We are thankful to the CM to have provided Rs 10 crore for the same. Though Rs 3,426 crore has been earmarked for the industrial sector, details had not been provided for the same. The Budget also has an outlay for subsidised power which is a welcome sign, keeping in mind that there has been no major power generation in the state in the past 25 years whereas the demand of power is constantly increasing by 15 per cent per annum. But there is no provision for providing cheaper finance to the MSME, which is long pending. Overall, the Budget has been made by keeping in mind meagre resources that the state possesses and the balance between the MSME and large units had been kept for the overall development of the state industry,” Sharma said.
Upkar Singh Ahuja, President of CICU, expressed gratitude to the state government and Chief Minister Bhagwant Singh Mann for their unwavering commitment to fulfill the industry’s needs. He emphasised that new initiatives would not only enhance industrial productivity but also pave the way for sustainable economic growth in the state.
“These allocations reflect the government’s proactive approach towards fostering industrial development, innovation and employment generation. The Unity Mall in Amritsar is a significant step towards showcasing Punjab’s heritage and promoting inter-state trade. We are immensely thankful to the CM for understanding and addressing our demands,” he said.
Meanwhile, reacting to budget allocation for health sector, Dr Arun Mitra, president, Indian Doctors for Peace and Development (IDPD), and Dr Inderveer Singh Gill said the allocation of Rs 5,598 crore for health, out of the Rs 2.36 lakh crore total Budget is a mockery. It comes to be only 2.37 per cent of the total amount. This was even less than the last year Budgeted amount, which was Rs 5,264 crore out of the total Rs 2,04,914 crore that is 2.5% of the total Budget. It is astonishing to see how the state government will improve people’s health in the state. The Chief Minister’s plan to make health insurance universal to all 65 lakh families in the state will remain a dream with this low allocation to health. The Budget will not even cover the increase in the inflation during this period.
Meanwhile, sportspersons have welcomed the state government’s announcement of increasing the Budget allocation of Rs 979 crore for sports to involve more and more youth. At the same time, they demand that transparency was must and it should be ensured that it was spent on sportspersons, their welfare and for providing infrastructure only.
Anil Datt Kumaria, general secretary, Punjab Badminton Association, said it was a welcome step as sports would get a boost in the state.
“But the major factor is the implementation of the same in true spirit. Sportspersons can grow if funds are spent on their welfare, providing best infrastructure in a true manner,” he said.
General secretary of the Punjab Basketball Association Teja Singh Dhaliwal said it was a good step and sports in the state would grow. “At the same time, we need to boost the morale of our sportsmen by providing them good jobs too as after getting training here when they do not get employment, they shift to other states and then become our competitors,”he said.
