finance minister to bring these fiscal fundamentals within the prescribed limits two immediate options include mobilising more resources and containing expenditurethe historical behaviour of revenue receipts suggests that between 201718 and 202122 on an average the revenue realised accounts was 18 short of revenue target budgetary estimates in case of the states own tax revenue and nontax revenue fall short the shortage was 17 and 29 of the targets respectively these large differences between targets and achievements suggest to the minister a wide scope for mobilising more resources by formulating a stringent revenue compliance strategy for improving collection of revenue as targeted in the budget the performance regarding revenue raising should be reviewed threadbare on quarterly basis by the fm he should also levy fresh taxes and revise upward the rates of existing taxes there is also a need to harness the potential of nontax revenue by enhancing user charges restructuring and merging public enterprises disinvestment and asset monetisation time series data suggests the same pattern in case of budgetary expenditure on an average the actual total expenditure was 17 lower than the budgetary targets between 201718 and 202122 capital expenditure suffered the most by being 42 lower than the budgetary targets these wide gaps between expenditure planned and incurred can help the minister contain expenditure costeffective strategies for efficient use of resources should also be introduced in the budget in brief all these measures would help bring down public debt revenue and fiscal deficits in the statepunjab experienced a rate of growth of 58 per annum from 200506 to 202122 which was lower than allindia growth 65 to restore the glory of punjab the economy should grow 7 and 10 in the short run and long run respectively the fms each initiative in revenue raising and allocating resources should take these targets in view for taking the economy to a higher growth trajectory the minister should step up capex incentivise farmcentric rural industrialisation and digital technology and knowledgebased industries including services joblessness is a universal phenomenon but widespread unemployment in punjab is serious in january 2023 punjab had an unemployment rate of 68 according to one estimate punjab has around 25 lakh unemployed persons in addition the agriculture sector has disguised unemployment unemployment is likely to increase further due to automation and increasing use of smart technologies like artificial intelligence the forthcoming budget is an appropriate opportunity to generate employment the minister should provide economic stimulus in the budget to a sector like education which prepares youth for employment it should also provide stimulus to sectors which generate decent jobs like farm centric rural industrialization micro small and medium enterprises msmes service sectors and startupsthe author is former vicechancellor punjabi university patiala