Punjab FM Cheema presents ₹2.60 lakh crore budget for FY27, says every promise fulfilled

Punjab Finance Minister Harpal Singh Cheema on Sunday (March 8, 2026) announced to transfer ₹1,000 per month directly to all adult women in the State. The benefit will not extend to current or former permanent government employees, sitting or ex-MPs and MLAs, or individuals who pay income tax.

He announced the new scheme titled “Mukh Mantri Mawan Dhian Satikar Yojna” during the ongoing Budget Session while presenting the State Budget proposal for the financial year 2026-27. Mr. Cheema said the government will transfer ₹1,000 per month directly to the accounts of all adult women. “Moreover, for women belonging to the SC community, the Bhagwant Mann government will transfer ₹1,500 per month directly to their accounts… Every woman in Punjab above 18 years of age will be eligible to enrol under this scheme, barring only a few, i.e. existing or past permanent government employees, existing and past MPs-MLAs and income tax payees.”

Taking a dig at the BJP government in Haryana, Mr. Cheema said, “...one of our neighbouring States announced a similar scheme but limited it only to households with annual income under ₹1 lakh, covering only 20% of all adult women. But Punjab will not do such jumlas. Hon’ble Chief Minister Sardar Bhagwant Singh Mann Ji is not a Chief Minister for 20% women of Punjab, but to all the women of Punjab.”

“A dedicated budgetary outlay of ₹9,300 crore has been earmarked in FY 2026–27 to ensure transparent and timely implementation,” he added.

Mr. Cheema, who presented the Aam Aadmi Party (AAP) Government’s Budget with a total outlay of ₹2,60,437 crore, said, “The effective revenue deficit and fiscal deficit are expected at 2.06% and at 4.08% of GSDP, respectively.” He added that the Gross State Domestic Product of State (GSDP) for FY 2026–27, is projected to reach ₹9,80,635 crore with an anticipated growth rate of 10%.

As per the Budget estimates, the effective outstanding debt for FY 2026-27 would stand at ₹442604.16 crore, up from ₹402633.51 crore in FY 2025-26 (revised estimates). The effective outstanding debt-to-GSDP ratio is estimated at 45.13% for FY 2026-27. The Punjab government paid an amount of ₹27679.42 crore as interest on the debt during FY 2025-26, which in the upcoming FY 2024-25 is expected to go up and is estimated to be at a whopping ₹28755.07 crore.

The Opposition parties reacted sharply to the Budget, which is the last one of the ruling AAP government ahead of the assembly election that is due in early 2027. The leader of the Opposition, the Congress party’s Partap Singh Bajwa, said, “The AAP government promised ₹1000 per month to every woman in 2022. After four years of silence, they suddenly remember the promise in 2026. If all guarantees were fulfilled, why did Punjab’s women have to wait 4 long years? This is not governance. This is election season politics.” Asking the AAP government to disclose the current status of the projects announced in previous Budgets, Congress leader Pawan Dewan dared the AAP government to bring a “White Paper” on all announcements made during all Budgets presented by their government.

Shiromani Akali Dal (SAD) president Sukhbir Badal said the scheme announced for women has been truncated, many sections excluded and only ₹9,300 crore earmarked for it when the outlay should have been more than ₹60,000 crore. He alleged the AAP government has defrauded women on International Women’s Day.

Published - March 08, 2026 12:37 pm IST

Related Topics