Retirement Age cut to 58 Years in this State| Budgetary announcement & Highlights

Tabled on Friday, Punjab State Government made announcement to cut the retirement age down to 58 years in state. Captain Amarinder Singh led Punjab government today laid down the annual Budget and made several new announcements. Among key highlights of Punjab Budget 2020-21 goverenment has decided to provide subsidy to farmers and also increased the pension to 4000/- per month. Government inspite of all new lucerative announcements cut short retirement age to 58 years in State Government jobs. No new taxes are introduced in the budget said Finance Minister on Friday.

Retirement Age cut to 58 Years, Key Highlights

Finance Minister of Punjab, Manpreet Singh Badal announced that the retirement age of state govt employees will once again going to be reduced to 58 years. Withdrawing the practice of giving extension in service, FM reduced retirement age. Bringing other key agendas forth Punjab Finance Minister also said that Punjab’s debt is expected to go up and may climb to RS 2.48 lakh crore by March 2021, in bringing new development pipelines.

To make enable the government to recruit youth, retirement age is brought down to 58 for Punjab State Government employees. Education in Punjab state government schools would be free of cost up to 12th Standard from now, FM announced. Earlier in state free education was till class 8 and only girls students had access to education till class 12 as free, but from now all students in Government schools to be provided free education. All children to get free education in Punjab State Government schools, criteria laid down by FM.

Among other developmental projects Punjab Government to build three Industrial Parks over 1,000-acre each. Three parks to be set up at Mattewara (Ludhiana), Bathinda and Rajpura (on Amritsar- Kolkata Industrial corridor).  One more park for pharma companies at Wazirabad in Fatehgarh Sahib to be built by State Government, said Finance Minister of Punjab Manpreet Singh Badal.

retirement age reduced to 58 punjab budget

Punjab Budget 2020-21 Key Highlights

Three industrial parks to be set up at Mattewara, Bathinda and Rajpura

Power subsidy of RS 8,275 Crores to be provided to state farmers

Education sector is allocated RS 13,092 Crores in 4th Budget of Amrinder Govt.

School education in govt schools to be free for all students till class 12.

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Paani bachao paisa kamao scheme to be extended in state

Budget of Rs 12,526 Cr is allotted to Agriculture sector

Expenditure on salaries is laid down, Pensions in Punjab state increased by RS 4,000 Crore

Ludhiana, Amritsar to get RS 104 Cr and RS 76 Cr under smart city project for next year

Near around 5000 EWS houses to be built for Urban Poor in state.