March 24, 2018 08:24 PM

Chandigarh (Face2News)

CII today hailed the state budget for 2018 - 19 presented by Finance Minister, Punjab as balanced & cautious aimed at provisioning something for each strata and also bringing in some degree of fiscal prudence & resource mobilisation. The state Government’s decision to provision of Rs 1440 crore for providing power at a variable cost of `5/- per unit to Industry as promised and also allocating Rs 20 Crores for setting up District Bureaus of Employment & Enterprise across the state has been much appreciated by the CII Fraternity.

Mr Sarvjit Samra
Complementing the state leadership for making concerted efforts to manage the state of finances, Mr Sarvjit Samra, Chairman, CII Punjab State Council & Managing Director, Capital Small Finance Bank pointed that its heartening to observe that the GSDP of the State has increased from 4,33,660 crore in 2016-17 to 4,77,482 crore in 2017 -18 and the Finance Minister has now set a target to achieve 5,18,165 crore in 2018 - 19. He also highlighted, that the enhanced per capita income of the State from Rs 1,31,112 in 2016-17 to Rs 1,42,958 in 2017-18, which is 28% higher than the national average of Rs 1,11,782 are also positive indicators that Punjab's economy has started to move in the right direction.

Mr Samra also appreciated the state Government’s budgetary allocation towards improving the Industrial infrastructure in existing Focal Points & Industrial areas, He suggested that a dedicated department with clear mandate for revamping of existing focal Points & industrial areas should be setup which can utilize the allocated funds in a judicious manner.

Mr Viren Popli
Mr Viren Popli, Vice Chairman, CII Punjab State Council & COO, Mahindra & Mahindra, Swaraj Division appreciated the Government’s decision to give impetus to the Agriculture sector by enhancing the annual outlay to the sector by Rs 4153 crore than the previous year. He lauded the Government's plan to reduce the dependence on wheat/paddy cycle and diversify the cropping pattern by assisting 7000 farmers and bringing 10000 acres of cultivable area under diversification during 2018-19 through special emphasis on Horticulture, marketing of produce and food processing. Mr Popli however suggested that the free power subsidy to farm sector should be disbursed with a more targeted approach wherein small & marginal farmers should actually be the intended beneficiaries as this would not only help in conserving our scarce ground water resources but also greatly help the state overcome its fiscal deficit.

The state Government’s decisions to promote crop residue management, setup Skills University besides modernising the Primary School Infrastructure and also enhancing the grant in aid to Colleges & universities were also well appreciated by the senior office bearers of CII. Disclaimer

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