State finances back on track: Punjab finance minister
Punjab finance minister Manpreet Singh Badal on Friday said the state finances were back on track.
“All financial indicators of the state are better in 2020 than they were in 2010. The fiscal situation is now under control with the indicators going up and the state’s economy is better than before,” Manpreet told reporters at his customary press briefing after presenting his budgetary proposals for 2020-21.
Principal secretary, finance, Anirudh Tewari and other officials of the finance department were also present.
The finance minister said the state had achieved a situation where there would be no funding gaps in 2020-21 because of the government’s sustained efforts of bringing in fiscal prudence. He said the government had brought in a culture of fiscal management and the state did not face unsavoury situation of going into double overdraft even for a single day as against 25 days in 2014-15, 7 days in 2015-16 and 16 days in 2016-17.
The finance minister also said the state would get higher share from the central taxes as has been proposed by the 15th Finance Commission. He also said the compensation to families of farmers who committed suicide would be ensured with 60 days.