Led by Punjab CM, cabinet gives nod annual financial statement for year 2023-24

Punjab Cabinet led by Chief Minister Bhagwant Mann on Wednesday gave its nod to present the Annual Financial Statement (Budget Estimates) of the Government of Punjab for the year 2023-24 on the floor of Punjab Vidhan Sabha in the ensuing session of the state assembly.
A decision to this effect was taken in the meeting of the Council of Ministers held here under the chairmanship of the Chief Minister here at his office in Punjab Civil Secretariat-I.
Disclosing this here on Wednesday a spokesperson of the Chief Minister’s Office said that in pursuance of the provisions contained in Article 202 and Clause (1) of Article 204 of the Constitution of India, the Annual Financial Statement (Budget Estimates) of the Government of Punjab for the year 2023-24 is required to be presented in the Punjab Vidhan Sabha after recommendation of Punjab Governor. Keeping in this the Cabinet has decided to present the same in the ensuing Punjab Vidhan Sabha session.
Likewise, In pursuance of the provisions contained in Clause(3) of Article 203 of the Constitution of India, the Cabinet also approved to present Supplementary Demands for Grants of the Government of Punjab for the year 2022-23, on floor of the Punjab Vidhan Sabha after recommendation of the Punjab Governor.
The Cabinet also approved to present the case of regularization of excess expenditure incurred form year 2015-16 to year 2018-19 in the ensuing Punjab Vidhan Sabha session. Under clause (1) (b) and (2) of Article 205 of the Constitution if any money has been spent on some service during a financial year in excess of the amount granted for that service and for that year, demand for such excess amount has to be presented before the Legislature and is to be dealt with in the same way as if it were demand for a grant. A demand for an excess grant is presented to regularize expenditure incurred in excess of the grant made in a past year (s).
The Cabinet also gave green signal to place reports of CAG Audit Reports of the Comptroller and Auditor General of India on Performance Audit on Implementation of Mahatma Gandhi National Rural Employment Guarantee Scheme in Punjab (Report No. 1 of the year 2023), State Finances Audit Report of the Comptroller and Auditor General of India for the year ended 31 March, 2022 (Report No.2 of the year 2023), Report of the Comptroller and Auditor General of India on Compliance Audit for the year ended 31 March, 2021 (Report No. 3 of the year 2022) and Finance Accounts, Appropriation Accounts for the year 2021-22 on the table of the Punjab Vidhan Sabha after recommendation of Governor in the ensuing session of Punjab Vidhan Sabha.
The Cabinet also gave approval to the annual administrative report of the Industries department for the year 2020-21.