Moneycontrol Be a Pro
Get App
you are here: HomeNewsIndia
Last Updated : Feb 18, 2019 07:41 PM IST | Source: Moneycontrol.com

Punjab Budget: Govt cuts petrol price by Rs 5, diesel by Re 1

State Finance Minister Manpreet Singh Badal presented the state Budget for FY20 with a total outlay of Rs 1,58,493 crore with no new taxes.

Moneycontrol News @moneycontrolcom

The Punjab government has slashed petrol prices by Rs 5 per litre and diesel by Re 1 per litre.

State Finance Minister Manpreet Singh Badal presented the state Budget for FY20 with a total outlay of Rs 1,58,493 crore with no new taxes.

The state's Budget focussed on agriculture, health, education and rural and urban infrastructure and proposed hikes in the range of 9-36 percent in the allocation of funds for these sectors. The total outstanding debt of the state is projected at Rs 2,29,612 crore for 2019-20 as against Rs 2,12,276 crore for 2018-19 (revised estimates).

Close

Badal projected the revenue deficit and fiscal deficit at Rs 11,687 crore (2.02 percent of GSDP) and Rs 19,658 crore (3.40 per cent of GSDP) for the 2019-20.

Among new announcements, Badal said a new policy 'Make in Punjab' was being drafted to promote goods manufactured and produced in the state.  For farm debt waiver, Badal proposed an allocation of Rs 3,000 crore for the year 2019-20.

"Our government in the next phase of implementation of the scheme, will waive off the loans of landless farm labourers and the families of farmers who have been forced to commit suicides," said Badal.

Petrol prices continued to climb for the fifth consecutive day across four metro cities in India on February 18 while diesel became costlier as well. The rates of petrol in all the metro cities surged by 15-16 paise a litre while diesel became costlier by 13-14 paise.

(With inputs from PTI)

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Feb 18, 2019 04:30 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant