Punjab Seeks Major Central Financial Support for Security and Development Initiatives

Punjab has requested significant central financial aid for bolstering police infrastructure, industrial incentives, agricultural support, and urban transport enhancements. This includes Rs 1,000 crore for border security, increased support for crop residue management, and financial backing for electric buses, amid various other development initiatives.

In a significant move, Punjab has sought Rs 1,000 crore central assistance to bolster its police infrastructure and security efforts in the border districts during a pre-budget meeting with Union Finance Minister Nirmala Sitharaman.

The state also emphasized the need for industrial incentives akin to those offered to Jammu and Kashmir and the neighboring hill states to support MSMEs in its border and sub-mountainous regions. Punjab Finance Minister Harpal Singh Cheema highlighted the demand to restore NABARD's Short-Term Seasonal Agricultural Operations limit to Rs 3,041 crore from the reduced Rs 1,100 crore, deemed vital to prevent farmers from resorting to moneylenders.

Additionally, Punjab proposed financial support for crop residue management, an incentive scheme for paddy diversification, enhanced grants for housing schemes, and investments in urban transport, reflecting its comprehensive approach to addressing systemic developmental challenges and promoting regional growth.

(With inputs from agencies.)