Punjab FM Cheema presents Rs 2.60 lakh cr budget for FY27, says every promise fulfilled

Chandigarh, Mar 8 (PTI) Every promise made to the people of Punjab has been fulfilled, Finance Minister Harpal Singh Cheema said on Sunday as he presented the state's budget for 2026-27 with an allocation of Rs 2,60,437 crore.

This is the last budget of the AAP government in Punjab before it goes to polls early 2027.

Presenting the budget in the state assembly, Cheema said this budget is dedicated to mothers and daughters of Punjab - a tribute to their strength and a celebration of their invaluable contribution to the society and future.

He said the state government's fifth budget marks a defining moment in its journey of governance.

"When the people of Punjab voted for change in March 2022, they did so with that same spirit - rejecting hollow politics and demanding a government that would be honest in intent, firm in resolve and decisive in action. Our vision of a 'Rangla Punjab' emerged from this moral foundation," he said.

In his address, Cheema also acknowledged the courage and resilience shown by the people of Punjab during last year's devastating floods. "When homes were submerged and livelihoods were disrupted, the people of Punjab stood together with remarkable strength and compassion, helping one another and rebuilding their lives with patience and resolve," said Cheema.

The FM said from the very first day of assuming responsibility of the state, the Aam Aadmi Party government under the leadership of Bhagwant Singh Mann has resolved that the guarantees given to the people would not remain mere words on paper.

"I stand before this august House with immense pride to state that rarely has a government, in the fifth year of its tenure, been able to say that every promise made to the people of Punjab has been fulfilled with confidence and credibility.

"Our Government has ensured that these guarantees were not rhetorical assurances, but structured policy interventions backed by budgetary support, institutional reforms and measurable outcomes. That is why I am naming this Budget as "Saari Guarantiyan Puri Karan Wala Budget", said Cheema.

Stating that Punjab's economy has demonstrated steady resilience and structural stability over the past year, Cheema said for 2026-27, gross state domestic product (GSDP) is projected to reach Rs 9,80,635 crore with an anticipated growth rate of 10 per cent.

The effective revenue deficit is estimated at 2.06 per cent of GSDP and the fiscal deficit at 4.08 per cent of GSDP.

These estimates reaffirm "our resolve to combine responsible fiscal management with sustained support for economic growth and public welfare," said the FM. PTI CHS VSD ANU ANU