In the Punjab Assembly Budget Session 2020, Finance Minister Manpreet Singh Badal has expressed the hope that Punjab will become a state with a primary surplus during this financial year. Beginning the budget speech in the House, the Finance Minister said that he is presenting the fourth budget of the Captain Amarinder Singh government and this is the first budget after three years when a major improvement in the state's financial situation is being seen.

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Punjab did not come into the state of double overdraft even once and thus the state government saved a total of Rs 52.45 crore by reducing the period of measures, advances, and overdrafts in three years. The Finance Minister said that the 15th Finance Commission, in its first report for the year 2020-21, recommended a 1.788 percent increase in income from taxes, which has also been accepted by the Central Government.

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Now the tax-share will be more from the Center to Punjab. Earlier, the 14th Finance Commission had fixed this share at 1.577 percent. The Finance Minister said that advance estimates are showing that GSDP of the state has reached 574760 crores during the year 2019-20 as against 521861 crores in the year 2018-19 and it is expected to reach 644326 crores in 2020-21. He also informed that in 2019-20, the per capita income in the state has also gone up to Rs 166830, which is 23.53 percent higher than the national average of Rs 135050.

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