Punjab govt to bring white paper on state finances in budget session

Chandigarh, Jun 24 (PTI) The Punjab Cabinet on Friday gave nod for tabling a white paper on the finances of the state in the current budget session of the Vidhan Sabha.

The decision was taken during a meeting chaired by Chief Minister Bhagwant Mann here.

"The white paper on state's finances is an attempt to simplify the complex issues being faced by the Punjab government and clearly apprising the common man of the present situation inherited by the incumbent government," an official statement said.

"This white paper primarily contains four chapters that bring out historic patterns and present status of financial indicators, debt position and financial health of the state PSUs. The white paper will also comment upon the possible way forward for the resurgence of fiscal health of the state," it said. 

The statement said budget estimates have been prepared meticulously after due consultation with all stakeholders, who gave their suggestions through emails, letters and direct communication.

In another decision, the Cabinet gave nod for amending the Punjab Right to Business Rules, 2020 to include expansion by existing units under the purview of the Punjab Right to Business Act, 2020.

The statement said to promote ease of doing business, the Punjab Right to Business Act was notified on February 6, 2020 and subsequently the Punjab Right to Business Rules, 2020 were also notified on July 29, 2020.

These were applicable to newly incorporated micro, small and medium enterprises (MSMEs) in Punjab. 

But the new amendment in the Punjab Right to Business Act will provide an enabling ecosystem for self-declaration, exemptions; expedite approvals and inspections for existing MSMEs too, it said.

The Cabinet also accorded approval for creating 810 posts for subordinate courts of the state, including posts of 25 Additional District and Sessions Judge and 80 Civil Judges (Junior Division)-cum Judicial Magistrates, including posts of the supporting staff.

This move will significantly help in setting up of new courts in the state, thereby, facilitating people by expeditiously disposing off pending court cases in the subordinate courts. 

The creation of these new posts will also create new employment opportunities for the youth besides strengthening the judiciary system in the state, it said.