FROM FUND DISTRIBUTOR TO INNOVATION DRIVER: FM CHEEMA HIGHLIGHTS SHIFT IN FISCAL GOVERNANCE
FARMERS GET RELIEF: RS 968 CRORE RELEASED FOR CROP LOSS COMPENSATION DUE TO SEVERE FLOODS THIS YEAR
LOAN WAIVER FOR 4,650 BENEFICIARIES UNDER PSCFC LOAN WAIVER PROGRAM
PAYING OUTSTANDING DUES OF RS 14,191 CRORE OF 6TH PUNJAB PAY COMMISSION, LEFT UNPAID BY THE PREVIOUS GOVERNMENT
BUILDING THE FUTURE: RS 9,600+ CRORE INFRASTRUCTURE PUSH FOR ROADS AND RURAL CONNECTIVITY
SUCCESSFUL NEGOTIATIONS WITH WORLD BANK FOR FINANCIAL ASSISTANCE OF RS. 2,520 CRORE FOR ‘PUNJAB ACCELERATED OUTCOMES IN SCHOOL EDUCATION’ PROGRAMME
SAYS, FD NO LONGER JUST A “DISTRIBUTOR OF FUNDS” BUT A “DRIVER OF INNOVATION”
LEADING NATION IN FINTECH: PUNJAB PIONEERS DIGITAL AUDITS AND PAPERLESS FINANCIAL MANAGEMENT
DEDICATED PENSIONER SEWA PORTAL NOW ALLOWS PENSIONERS TO TRACK THEIR CASES, SUBMIT LIFE CERTIFICATES, AND LODGE GRIEVANCES ONLINE
CHANDIGARH, December 21
In the annual year-ender report of the Finance Department, the Punjab Finance Minister Advocate Harpal Singh Cheema on Sunday showcased a year of robust fiscal management, unprecedented infrastructure investment, and landmark digital reforms. He emphasized that the department of Finance is no longer just a “distributor of funds” but a “driver of innovation”.
Highlighting the Chief Minister Bhagwant Singh Mann led Punjab Government’s “people-first” approach, the Finance Minister Harpal Singh Cheema said that the priority remains ensuring the state exchequer serves the common man directly. “Whether it is the Rs 968 crore released for crop loss compensation to our farmers who faced severe floods this year or the loan waiver for 4,650 beneficiaries under the Punjab Scheduled Castes Land Development and Finance Corporation (PSCFC) loan waiver program, we are committed to providing a safety net for every Punjabi. We have even reduced the cost of doorstep delivery of government services from Rs 120 to just Rs 50, with the government absorbing the remaining cost to ease the burden on citizens.”
Referring to the free 600 units power to domestic consumers for every two month bill cycle, the Finance Minister Harpal Singh Cheema said that the state government is not only providing free power to more than 90 percent households but has also cleared all payments related to power subsidy up to September 2025, including pending dues. He said that the 6th Punjab Pay Commission was implemented from July 1, 2021, and the government is committed to clearing the outstanding dues of Rs 14,191 crore left unpaid by the previous government. The government has already started releasing arrears as per the structured liquidation plan in FY 2025-26, benefiting 6 lakh employees and pensioners, Cheema added.
Revealing the initiatives taken to bolster grassroots development, the Finance Minister said that the state government has released Rs 292 crore under the Rangla Punjab Vikas Scheme, ensuring every constituency receives Rs 2.5 crore to address immediate local needs. He said that the year 2025 marked a massive surge in connectivity and sports infrastructure. “A mammoth project to construct 2,832 km of Plan Roads and 7,767 km of Link Roads is underway at a cost of Rs 5,338 crore. The Mandi Board is executing the construction of 12,361 km of new rural link roads with an investment of Rs 4,275 crore, and Rs 500 crore has been earmarked for developing world-class playgrounds across the state to foster a culture of fitness and sports”, he added.
Stressing on the AAP Government’s focus areas of Education and Health, the Finance Minister said that in a significant move for the education sector, the state government concluded negotiations for the World Bank-supported POISE programme (Punjab Outcomes-Acceleration In School Education Operation). He said that with a total outlay of Rs 2,520 crore (70:30 cost-sharing with the State), this five-year initiative aims to revolutionize learning outcomes and governance in school education. He said that the state soon to provide an insurance cover of Rs 10 lakh to approximately 65 lakh families under Mukh Mantri Sehat Bima Yojana, with an estimated expenditure of Rs 600 crore this fiscal year.
Lauding the Finance Department for leading the nation in FinTech, the Finance Minister said that the department has undergone a digital metamorphosis through the Integrated Financial Management System (IFMS), introducing several “Good Practices” that enhance transparency and efficiency. He said that Punjab became a pioneer in implementing the SNA-SPARSH fund flow mechanism. He said that the state had earned an incentive of Rs 450 crore in FY 24-25 and is eyeing another Rs 350 crore this fiscal year by optimizing cash liquidity and reducing unutilized funds.
“A dedicated Pensioner Sewa Portal (PSP) now allows pensioners to track their cases, submit life certificates, and lodge grievances online, ensuring “Ease of Living” for senior citizens. Moving away from slow manual processes, the new Audit Management System (AMS) portal allows for real-time tracking of audit memos and reports, ensuring accountability at the highest administrative levels. By shifting to electronic vouchers for all bills across Punjab, the government has significantly reduced stationary and logistical costs while streamlining the accounting process with the Accountant General (AG)”, said the Finance Minister while adding that for the first time, the Punjab Treasury Rules (PTR) have been completely overhauled to incorporate modern FinTech and IT applications, with the new rules set to be published shortly.
Concluding the year-ender, the Finance Minister Advocate Harpal Singh Cheema said that under the leadership of Chief Minister Bhagwant Singh Mann, the state has successfully balanced grassroots development with cutting-edge financial technology. “Through the automation of deposit works in the Forest and Works departments and the introduction of a non-treasury accounting system, we have plugged leakages and ensured that every rupee is accounted for. We enter 2026 with a stronger balance sheet and a clearer vision for a prosperous Punjab,” the Minister added.
