‘Welfare of all primary focus’

Dedicating the Budget to farmers, Finance Minister Manpreet Singh Badal says he has ensured the benefit of all welfare policies reaches out to the lowest strata of society. In an interaction with The Tribune, he gives insight into Budget proposals and other pressing issues. Here are some excerpts:

• What was the main focus area of the Budget for an election year?

It was the people’s welfare that remained my primary focus while planning the Budget proposals. The maximum allocations have been made for social security and agriculture sectors, urban planning, water resources’ upgrade, besides enhanced allotment for health and education sectors. We have allocated additional 12 per cent funds for the education sector. The Budget for skill development of youth has been increased by five times.

• You have hiked the Budget size substantially. Where will money come from?

We have received a revenue deficit grant of Rs 9,000 crore from the 15th Finance Commission. Other than this, the increase in devolution of central taxes will get us an additional revenue of Rs 1,500 crore this year. The GST compensation is expected to go up as will the share of central taxes by over Rs 2,100 crore. We are expecting an increase in state’s own tax and non-tax revenue by Rs 10,000 crore.

• Is Punjab’s debt becoming unsustainable?

The debt is definitely going up. But we have to look at it from the perspective of the growth in state’s gross domestic product. As the GSDP increases, the debt can also increase, though its ratio has to be manageable.

• When will the employees get the new pay scales?

The report of the Pay Commission is expected to be submitted before March 31. The new pay scales will be given from July 1 onwards. The arrears will be released in instalments.

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