Budget to focus on poll promises
Wednesday, 14/06/2017
http://www.tribuneindia.com/news/punjab/budget-to-focus-on-poll-promises/422098.html
Chandigarh : The state government is likely to present a Budget that covers various aspects of the Congress’ election manifesto. However, the implementation of the poll promises is expected to be staggered over the next five years.
One can expect a jump in the social security pension — from the present Rs 500 per month to Rs 750 with the government promising to increase it to Rs 2,000 per month in the next five years.
The much-awaited debt waiver for farmers will become a debt relief scheme. Sources in the Finance Department said provisioning of over Rs 1,500 crore was being made in the Budget to give relief to the farmers. The spin doctors in the government said a leaf could be taken from UP Chief Minister Yogi Adityanath’s book of issuing debt-free certificates to farmers who have taken term loans for agriculture, even as the government starts repaying part of their debts over the next five years.
It is now accepted that the state cannot repay the Rs 36,600-crore term loans of farmers, considering the revenue deficit of Rs 19,000 crore.
The unemployed youth could be wooed by dovetailing the Pradhan Mantri Mudra Yojana for financing micro units and Stand-up India Programme that gives loans for setting up business ventures. A leading telecom company is being approached to provide low-cost smartphones free of cost to the youth and earn revenue from its services.
Officials in the Finance Department said these steps would not require much financial outlay, if spread over five years.
