The Punjab government has decided to go for a vote on account, and present its annual Budget in June this year. The final meeting on the plan, expected to take place on February 24 between deputy chairman of the Planning Commission, Montek Singh Ahluwalia, and Punjab chief minister Parkash Singh Badal, has been postponed. Finance minister of Punjab, Manpreet Badal, said though the Assembly session is proposed to start on February 27, in view of the upcoming general elections and model code of conduct kicking in, the Punjab government would go for vote on account.
?We would like to wait for the Union Budget too because we want to take the advantage of the new schemes that may be introduced in the Budget,? the finance minister added. ?The final report of sixth pay commission is awaited without which we will not be able to announce creditable budget.?
?According to our estimate the provision for pay panel is expected to be anywhere between Rs 2,000 crore and Rs 2,200 crore annually,? the finance minister added. ?However arrears of the sixth pay commission will be paid in two years. We are expecting that our demand from centre to share 50% of the burden on account of the revision of pay will get accepted.?
Despite the economic slowdown, the finance minister said the state government would be able to increase the plan size to Rs 8,450 crore, a jump of nearly 35% over the last year. Commenting on the interim budget announced by the union government, the finance minister said that fiscal deficit which has grown to 6% is a cause for worry.