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Punjab Budget: Spending, Capital Outlay, Fiscal Deficit and Central Tax Share

Punjab's budget is Rs 2,04,918 crore, of which Rs 14,500 crore (7.1%) is capital outlay for building assets. The fiscal deficit is 3.75% of the State's GSDP, and its share of central taxes is Rs 21,000 crore.

2024-25 (BE) & 2023-24 (RE) · compiled from State Budget Books (Demands for Grants) & RBI State Finances Study; figures as compiled, not a live feed

Punjab budget at a glance

ItemAmount
Total budgetRs 2,04,918 crore
Revenue expenditureRs 1,78,000 crore
Capital outlayRs 14,500 crore (7.1% of the budget)
Own tax revenueRs 58,000 crore
Share of central taxesRs 21,000 crore
Grants from the CentreRs 15,000 crore
GSDPRs 7,80,000 crore
Fiscal deficit3.75% of GSDP

Where Punjab spends: major heads

Head of accountAmountShare of budgetCovers
Debt interest (2049)Rs 23,900 crore11.7%High public debt servicing
Education (2202)Rs 17,200 crore8.4%Schools of Eminence, primary teacher grants
Agriculture (2401)Rs 14,800 crore7.2%Free agricultural power subsidy, canal water
Police security (2055)Rs 10,500 crore5.1%Anti-gangster task force, border drone grid
Health (2210)Rs 5,800 crore2.8%Aam Aadmi clinics, sub-district hospital upgrades
Roads and bridges (3054)Rs 4,800 crore2.3%Rural link roads, bridge maintenance
Rural development (2501)Rs 4,200 crore2.0%Village ponds, solar streetlights

Punjab's share of central taxes: releases announced

Financial yearAnnounced in releases
2026-27Rs 2,176.00 crore
2025-26Rs 1,836.00 crore
2024-25Rs 8,871.97 crore
2023-24Rs 6,023.40 crore
2022-23Rs 6,777.16 crore
2021-22Rs 1,718.16 crore
DateReleaseTo PunjabShare
1 Aug 2026Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and developmental expenditureRs 2,176.00 crore1.996%
1 Oct 2025In view of upcoming festive season and to enable States to accelerate capital spending and finance their development/ welfare related expenditure, Union Government releases tax devolution of ₹1,01,603 crore to State Governments, as one advance instalment of tax devolutionRs 1,836.00 crore1.807%
10 Jan 2025Union Government releases tax devolution of ₹1,73,030 crore to State Governments to accelerate capital spending and finance their development and welfare-related expendituresRs 3,126.65 crore1.807%
10 Oct 2024Union Government releases tax devolution of ₹1,78,173 crore to State Governments, including one advance instalment of ₹89,086.50 crore in addition to regular instalment due in October, 2024Rs 3,220.00 crore1.807%
10 Jun 2024Centre releases Rs. 1,39,750 crore installment of Tax Devolution to StatesRs 2,525.32 crore1.807%
29 Feb 2024Union Government releases another additional installment of tax devolution of Rs. 1,42,122 crore to strengthen hands of State Governments for financing various social welfare measures and infrastructure development schemesRs 2,568.00 crore1.807%
7 Nov 2023Union Government authorises release of tax devolution of ₹72,961.21 crore to all State Governments for November, 2023; three days ahead of the usual date of 10th NovemberRs 1,318.40 crore1.807%
12 Jun 2023Central Government releases ₹1,18,280 crore as 3rd instalment of tax devolution to State Governments as against normal monthly devolution of ₹59,140 croreRs 2,137.00 crore1.807%
10 Mar 2023Union Government releases 14th instalment of tax devolution to State Governments amounting to ₹1,40,318 crore to strengthen hands of States to accelerate their capital and developmental expenditureRs 2,561.00 crore1.825%
10 Nov 2022Two instalments of tax devolution to State Governments amounting toRs 2,108.00 crore1.807%

Covers the instalments announced through press releases (extra or advance instalments, and some regular ones). Regular monthly instalments without a release are not included, so yearly sums here are not the full year's devolution. Source: Ministry of Finance press releases (Press Information Bureau).

More about Punjab

Union and all State budgets · Tax devolution and the 15th Finance Commission simulator