India, March 12 -- The Punjab assembly on Wednesday passed the state budget for the 2026-27 fiscal year, presented by finance minister Harpal Singh Cheema, after a three-day debate. Concluding the discussion, Cheema highlighted the Aam Aadmi Party (AAP) government's achievements over the past four years and addressed concerns raised by MLAs.

Responding to opposition questions on state debt, Cheema said 85% of current funds are being used to service inherited liabilities, yet the government has reduced the debt-to-GDP ratio from 48% to 45% and cleared liabilities worth Rs.21,860 crore. He emphasised that the state has adhered to FRBM Act limits and avoided excessive borrowing, managing short-term cash efficiently through the Sinking Fund ...