To boost jobs, Punjab Government reduces retirement age of employees to 58

In an attempt to boost job opportunities for youth in Punjab State, Punjab Finance Minister Manpreet Badal on Friday, February 28, while presenting the State budget, informed the Assembly that the retirement age of government employees has been lessen to 58 from 60 years. 

For fiscal 2020-2021, the Finance Minister presented a budget of Rs 1.54 lakh crore. 

Currently, the retirement age for government employees is 60 years. 

Punjab govt mulls reducing retirement age to 58

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The reduction in retirement age comes with the withdrawal of extension of the practice of giving extension in service. Badal said that this will allow the government to create new job opportunities and recruit youth. 

The Finance Minister also announced 6% dearness allowance for employees who would be released on March 1. He said that the pay commission report will be implemented and has been accounted for in the budget. 

Badal also announced a debt waiver for landless farm laborers in the year 2020-21. He also added that a sum of Rs 520 crore has been set aside for the same. 

READ | Punjab govt presents Rs 1.54 lakh cr budget

A rural development fund fee and market committee fee would be reduced to just one percent from four percent, he said. 

Punjab State Assembly discusses Budget

This is the fourth budget of the Amarinder Singh-led government in the state. It has allocated Rs 132 crore for the modernization of Punjab Police. Punjab FM allocates Rs 600 crore for smart village campaigns and Rs 100 crore for promoting digital education.

The budget also earmarked Rs 13,092 crore for the education sector and Rs 4,675 crore for the health sector. 
Rs 12,488 crore have been allocated for school education which accounts for 8 percent of the total expenditure. Also, Rs 8,275 crore has been allocated for free power to farmers. 

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Amidst all of these, Opposition members of the Aam Aadmi Party have been blaming the Congress government for not fulfilling its poll promises on providing jobs to the youth. 

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