Chandigarh, March 8
Punjab Finance Minister Harpal Singh Cheema today presented the Aam Aadmi Party government’s Budget with a total allocation of ₹2,60,437 crore. While delivering his budget speech, Cheema announced that the effective revenue deficit is projected at 2.06 per cent of GSDP and the fiscal deficit at 4.08 per cent. He further stated that Punjab’s Gross State Domestic Product (GSDP) for FY 2026–27 is expected to touch ₹9,80,635 crore, reflecting an anticipated growth rate of 10 per cent.
According to the Budget estimates, the effective outstanding debt is likely to rise to ₹4,42,604.16 crore in FY 2026–27, compared to the revised figure of ₹4,02,633.51 crore for FY 2025–26. This places the debt-to-GSDP ratio at 45.13 per cent for FY 2026–27. The government spent ₹27,679.42 crore on interest payments in FY 2025–26, and this burden is projected to increase to ₹28,755.07 crore in FY 2026–27.
Meanwhile, in today’s budget, Cheema also unveiled, what he termed as a landmark welfare initiative – “Mukh Mantri Mawan Dhian Satikar Yojna,” in which every adult woman in Punjab will receive a direct monthly transfer of ₹1,000 into her account. However, for women belonging to the SC Category, this scheme will provide them a monthly allowance of ₹1,500. Cheema clarified that the scheme excludes permanent government employees (serving or retired), sitting and former MPs and MLAs, as well as income tax payees.
Highlighting the inclusivity of the program, Cheema contrasted Punjab’s approach with Haryana’s, where a similar scheme was restricted to households earning less than ₹1 lakh annually, covering only about 20 per cent of the women. “Punjab will not indulge in such gimmicks,” he remarked, adding that Chief Minister Bhagwant Mann’s vision is to empower all women of the State, not just a fraction. To guarantee smooth and transparent implementation, the government has earmarked a dedicated budgetary provision of ₹9,300 crore for FY 2026–27.
Meanwhile, the Punjab government’s Budget for FY 2026–27 has drawn sharp criticism from opposition parties, who dismissed it as lacking substance and direction. The Shiromani Akali Dal (SAD) chief Sukhbir Badal branded the Budget “useless,” alleging it failed to address the pressing concerns of farmers, youth, and industry. “It offers no meaningful relief and is nothing more than empty rhetoric,” the party said, accusing the AAP government of presenting a document without a roadmap for Punjab’s future.
Punjab Pradesh Congress Committee (PPCC) President Amarinder Singh Raja Warring and Leader of Opposition in Punjab Assembly Partap Bajwa went a step further, calling it the “worst ever, hollow and visionless.” Party leaders mocked the timing of the newly announced women’s allowance scheme, under which adult women will receive ₹1,000–₹1,500 per month. “Instead of creating Rangla Punjab, the AAP government has reduced it to Kangla Punjab,” Congress leaders remarked, taking a dig at Chief Minister Bhagwant Mann’s welfare push.
The BJP too joined the chorus, describing the Budget as “aimless and deceptive.” In its statement, the party leaders from Punjab unit said the proposals were “a bundle of empty promises” that offered slogans instead of solutions, leaving Punjab without a clear vision for the future.
