Chandigarh, Mar 26 (PTI) Punjab Chief Minister Bhagwant Mann on Wednesday hailed the state budget for 2025-26 and said it is a paradigm shift to 'Rangla (vibrant) Punjab' from the regressive one during the previous regimes.

Finance Minister Harpal Singh Cheema announced a Rs 10 lakh health insurance cover for all families, steps to tackle drug menace and a 'Rangla Punjab Vikas' scheme for holistic development in the Rs 2.36 lakh crore state budget presented in the assembly on Wednesday.

Mann said the budget of Rs 2,36,080 crore is the biggest budget of the state and is the third tax-free budget of his government.

Though during the previous governments, Punjab had got several negative tags, his government is committed to carving out 'Rangla' (vibrant), progressive and happy Punjab, said Mann in a statement.

He said funds have been earmarked for sectors like health, education, jobs, industry and others which will give impetus to development of the state.

The CM said it is a matter of great pride and satisfaction that this third tax-free budget has been presented by his government.

He said the budget of his government is aimed at further giving a fillip to the ongoing development of the state.

Mann envisioned that the budget will further transform the destiny of a common man by ensuring peace, progress and prosperity in the state on one hand and giving major fillip to economic activity on the other.

He said as per the commitment of his government, the budget is the blueprint for restoring the pristine glory of the state and carving out a 'Rangla Punjab'.

He said the budget will give further impetus to the growth in every sector and ensure that the state witnesses comprehensive growth.

Mann said the day is not far when this budget coupled with pragmatic policies of the state government will help in the progress of the state.

It is heartening to note that due to concerted efforts of the state government, Punjab ranks at 15th in the list of states by per capita income and the state's economy is on a strong growth trajectory, registering an impressive 9 per cent growth in the current year, he said.

The CM said as promised in the first budget of his government, Punjab's deteriorating fiscal health has been restored after inheriting a fragile financial state.

Mann said it is a matter of immense pride and satisfaction that Punjab's own tax revenue has recorded double-digit growth in the current year also, rising by 14 per cent as of February 2025.

He added that due to concerted efforts of the state government enhanced excise, revenue and GST collections have resulted in "our own tax revenue increasing from Rs 37,327 crore in FY 2021-22 to Rs 57,919 crore in FY 2024-25". PTI CHS KVK KVK

Budgetary paradigm shift focused on universal health insurance and fiscal recovery to spur comprehensive state development. The 2025-26 budget is framed as a budgetary paradigm shift focused on delivering a 'Rangla Punjab' through major allocations to health, education, jobs, industry and holistic development. It introduces a universal family health insurance cover, measures against the drug menace and a 'Rangla Punjab Vikas' scheme, presented as the largest and third successive tax-free budget. The government highlights fiscal restoration, sustained own-tax revenue growth and an asserted strong economic growth trajectory as the budget's operative financial underpinnings.