Punjab Budget 2008-09

Chandigarh March 17, 2008

The Finance Minister, Punjab, Sardar Manpreet Singh Badal presented the 2nd Budget of Shiromani Akali Dal – Bhartiya Janta Party Government led by Sardar Parkash Singh Badal Sahib today (17th March, 2008) to Punjab Vidhan Sabha. The total size of the Budget is Rs.31634.61 crore which includes Revenue Expenditure of Rs. 25261.20 crore, Capital Expenditure Rs. 3482.94 crore, Public Debt Repayment Rs.2446.05 crore and Loan & Advances Rs. 36.85 crore.

State of Economy

The State's economy grew at an annual average rate of 5.08 per cent during the Tenth Five Year (2002-07) against the target of 6.4 per cent fixed by the Planning Commission, whereas the national economy grew at an average rate of 7.77 per cent during the same period. The Planning Commission has indicated a target of 5.90 per cent economic growth for the State during Eleventh Five Year Plan (2007-12) as against 9.00 per cent projected growth target for the national economy.

As per quick estimates the Gross State Domestic Product (GSDP) at constant prices (1999-2000) is expected to increase from Rs. 85729 crore in 2005-06 to Rs. 91148 crore in 2006-07. It is expected to further rise to Rs. 97179 crore in the current year as per advance estimates. This indicates an overall growth of 6.62 per cent in the current year against 6.32 in the previous year. Sector-wise GSDP is given in the enclosed Statement.

The per capita income at constant prices has been estimated at Rs. 30158 in 2006-07 compared to Rs. 28872 in 2005-06 showing an increase of 4.45 per cent. The per capita income at current prices is estimated at Rs. 40566 as against Rs. 36759 in the same period indicating a rise of 10.36 per cent in the same period.

Click: Budget Estimates 2008-09