Punjab to boost irrigation

Punjab will give a thrust to the irrigation sector, providing clean drinking water, road network, health, education, social and human capital, in this coming Budget.

This was stated by Punjab Finance Minister Manpreet Singh Badal while interacting with industralists during the pre-budget meeting organised by PHD chamber of commerce and Industry.

He said the government was committed to the development of the state. He claimed that within three to four years, the state will be power surplus.

Commenting upon financial health of the state DS Kalha, principal sectretary, finance, said the state was reeling under huge debt of Rs 52,000 crore paying Rs 4,000 crore as interest.

He added that there had been a 12 per cent increase in the value-added tax (VAT) collection while the collection from stamp duty and registery reduced by 18 per cent "" an overall 1 per cent increase in tax collection.

He added the department was hopeful to collect Rs. 10,000 crore by the end of this fiscal in the form of VAT, stamp duty, registery etc.

He added that the state need additional Rs. 5000 crore in terms of taxes for various purposes.