Power subsidy burden to touch Rs 10,000 cr in Punjab

The power subsidy burden for Punjab is set to rise by about 80 per cent to Rs 10,000 crore by end of current fiscal, as per budget documents.
Finance Minister Manpreet Singh Badal today tabled Congress government's maiden budget in Punjab Vidhan Sabha here.
As per budget at a glance, the power subsidy for the financial year 2017-18 has been projected at Rs 10,255 crore as against budget estimates of Rs 5,600 crore in 2016-17. In 2015-16, the power subsidy burden was pegged at Rs 4,847 crore.
Notably, Punjab supplies free power to the farm sector and 200 units per month each to SC, BPL and backward class families.

In budget, the state government has also decided to provide 300 units free of cost electricity to every freedom fighter's home.
With the FM expressing concern over rising share of salary, wages, pension and interest payments in revenue expenditure, these payment would consume 76 per cent of total revenue receipts during 2017-18, as per budget documents. The revenue receipts were pegged at Rs 60,079.87 crore for current financial year.

Meanwhile, FM Manpreet Badal while presenting budget proposed to increase the compensation to farmers for crop damaged because of vagaries of weather from Rs 8,000 to Rs 12,000 per acre.
He quoted global economists like Nobel laureate Joseph Stiglitz and the French economist Thomas Piketty as he spoke of how Punjab's economy can benefit from modern global financial trends.

For housing for poor families, the minister announced construction of 2,000 built up houses for houseless poor urban SC/BC families.
He said the government is committed to plan the solarisation of 2,000 agriculture pump sets in the state with an 80 per cent subsidy component and budgetary provision of Rs 100 crore in this regard for 2017-18.
The government also decided to increase the honorarium given to the Chowkidars to Rs 1,250 per month.
The government has announced an allocation of Rs 100 crore for Universal Health Insurance for the under privileged people while under the scheme "Financial Assistance to Acid Attack Female Victims", a financial assistance of Rs 8,000 per month shall be provided.

The finance minister announced new residential and industrial estates will be established at Hoshiarpur, Jalandhar, Amritsar and Ludhiana, among others. A sum of Rs 2,020 crore will be spent on various development works in the state in the construction sector alone.
The minister announced modernisation of three milk plants at Mohali, Jalandhar and Amritsar, which will increase the milk handling capacity by 25 per cent in one year.
Computer education will be introduced in all primary schools, said Manpreet adding how education will the primary tool to reduce inequalities and inequities in the state.
'Ashirwaad' scheme will get a 40 per cent hike with a sum of Rs 21,000 (up from Rs 15,000). Under this scheme, money is given to beneficiaries SC/BC/Christian girls and daughters of widow at the time of marriage, he said.

The government also increased the reservation for Scheduled Castes from 15 per cent to 30 per cent in all government schemes pertaining to the allotment of plots/houses in the state.
A Punjab Corporate Social Responsibility Authority (PCSRA) will be established.