Punjab

CII WELCOMES WELFARE-ORIENTED PUNJAB BUDGET

February 18, 2019 07:54 PM

Chandigarh (Face2News)

CII today hailed the state budget for 2019 - 20 presented by Finance Minister, Punjab as pro-poor & aimed at provisioning something for each strata and also bringing in some degree of fiscal prudence & resource mobilisation. The state Government’s decision to rationalise the VAT rates on petroleum products in line with neighbouring states wherein the petrol would now be cheaper by Rs 5 per litre, diesel by Rupee 1 has been greatly appreciated by CII fraternity in the state.

Sarvjit Singh Samra
 
Gurmit singh Bhatia
 
The launch of Make in Punjab to promote goods manufactured and produced in Punjab by extending purchase preference to local suppliers of up to 50 per cent of total quantity has also brought cheers among the local Industry.

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 after several years, the state is in primary surplus and the unfunded gap in the budget will be reduced from Rs 4,175 crore in the current fiscal to Rs 2,323 crore in 2019-20. These according to Mr Samra are positive indicators showing that Punjab's economy has started to move in the upward trajectory. 

Mr Samra also appreciated the state Government’s intent towards improving the Skill set of the local youth and helping them find gainful employment through its new scheme of Mera Kamm, Mera Maan for which it has allocated a sum of Rs 90 crore, besides also setting up 15 new ITI’s in the state which according to him will help Industry over shortage of trained manpower. He also lauded the state Government’s decision to provision Rs 1513 crore for providing power at a variable cost of Rs 5/- per unit to Industry and also earmarking Rs 296 crore for development of Ludhiana, Amritsar and Jalandhar as smart cities. 

Mr Gurmeet Singh Bhatia, Immediate Past Chairman, CII Punjab State Council and CMD, Ajooni Biotech Limited appreciated the Government’s decision to give impetus to the Agriculture & Allied sectors by enhancing the annual outlay to the sector to Rs 13,643 crore--an increase of Rs 159 crore. He lauded the Government's plan to set up Punjab Agri Export Corporation and also a Wood based Industrial Park, which according to him will encourage value addition in Agri produce in the state. Mr Bhatia also appreciated the provisioning of Rs 375 crore for distribution of machinery for crop residue management to solve the problem of paddy straw burning. Such schemes according to Mr Bhatia need to be dovetailed with similar initiatives being undertaken by Industry & civil society groups so that a visible impact is felt on ground. 

The state Government’s decisions to enhance its spending for social sector including Health and Education and also develop Rural and Urban infrastructure through increased budgetary outlays have also been appreciated by the senior office bearers of CII.

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