Punjab’s 2010-11 plan pegged at Rs.9,150 crore

NEW DELHI/CHANDIGARH - Punjab’s annual plan for 2010-11 was Thursday finalised at Rs.9,150 crore.

The decision was taken at a meeting between Punjab Chief Minister Parkash Singh Badal and Planning Commission’s Deputy Chairman Montek Singh Ahluwalia in New Delhi.

The plan outlay includes an additional central assistance of Rs.333 crore earmarked for priority projects, with 30 percent central grant component.

“Annual plan 2010-11 was pegged at Rs.9,150 crore against the outlay of Rs.8,600 crore for 2009-10. The budgeted plan is proposed at Rs.4,434 crore while the remaining Rs.4,716 crore would be from the extra-budgetary component,” said a Punjab government spokesperson in Chandigarh.

“Top priority has been accorded to the energy sector for which 36 percent of the total plan outlay had been earmarked. A major share of the outlay would be spent on power generation, distribution and upgradation of transmission. Social services sector with 26 percent share is the second top priority sector,” he added.

Road transport sector will get 16 percent of the plan outlay, he said.

“During the meeting, Badal had apprised Ahluwalia about the plan performance and mentioned that the target for growth of state’s economy was fixed at 5.90 percent during the 11th five-year plan. The growth during the first three years of the plan has been 6.88, 6.40 and 6.69 percent respectively,” the spokesperson said.

Referring to the dismal financial position of the state, Badal informed Ahluwalia that the total accumulated debt was Rs.64,924 crore coupled with the heavy borrowings to the tune of Rs.9,000 crore in the year 2010-11.

Besides, there had been an additional burden of Rs.5,292 crore due to the recommendations of Punjab fifth pay commission, he said quoting Badal.