In a major effort to facilitate industrial development, the Punjab government has launched a streamlined and time-bound procedure for the establishment of new industries. The permissions for new industrial projects will be issued within 45 days, and defects in the application should be indicated within 10 days. Also, officers won't be able to raise recurring objections on the same point, and this would be a smooth process for the investors.
The task of processing approvals will be with Invest Punjab (PBIP), the state's investment promotion agency. The government is also providing ₹250 crore to beef up the initiative, with implementation likely by the end of April.
Ensuring transparency and efficiency
To cut down on bureaucratic delays, officers have to clear industry files in 30-35 days. If they don't, the Chief Secretary will step in and get all the formalities done within the next 10 days. The step is intended to bring more industries to Punjab, which has been finding it difficult to attract new investments because of cumbersome approval procedures.
The government aims to generate fresh job opportunities and retain the youth of Punjab in productive work, keeping them away from drug addiction.
Other significant announcements to be made in Budget
Besides industrial growth, the Punjab Budget 2025-26 will also highlight employment, law and order, infrastructure, and agriculture. Following are some of the major announcements that are likely to be made:
1. Hiring of 5,000 home guards
To enhance law and order and support the anti-drug drive, Punjab will induct 5,000 Home Guards. They will also assist the BSF along the borders. ₹50 crore will also be spent on anti-drone technology.
2. Reduced emergency response time
The government plans to cut the time taken by emergency vehicles under Dial 112 to 8 minutes from the present 30 minutes. This would include the issuance of new vehicles to the police force.
3. Better roads in major cities
A ₹140 crore allocation is planned for road development in Jalandhar, Ludhiana, and Amritsar.
4. Sustained emphasis on education and health
Institutions of education and healthcare will continue to be at the forefront in this year's budget.
Punjab's largest budget so far
The AAP-run Punjab government is set to place its largest-ever budget at an estimated ₹2.15 lakh crore for FY 2025-26-
5% greater than that of last year.
The top-priority sectors would be:
- Farmer well-being and agriculture
- Jobs and industry
- Free Punjab from drugs
- Strengthening public safety and law enforcement
But the Rs 1,000 per month guarantee scheme for women can be delayed again because of financial limitations since the government has already kept four big poll promises.
A cabinet meeting at CM Bhagwant Mann's house at 9:30 AM on Wednesday has been arranged before the budget speech to seal key decisions.
These pro-investment budget announcements and policies indicate Punjab's resolve for economic growth, job generation, and governance reforms in 2025.