Chandigarh, Jun 7 (IANS): The Punjab Cabinet led by Chief Minister Bhagwant Mann on Tuesday approved summoning of the budget session of the 16th Vidhan Sabha from June 24 with the laying of the budget - the first of the AAP government - on June 27.

A decision in this regard was taken at a Cabinet meeting chaired by Mann here.

The Chief Minister's Office said the Cabinet gave the nod for promulgation of the session from June 24 with obituary references and motion of thanks on the Governor's Address, followed by a discussion on it.

The Finance Minister will present the budget for 2022-23 on June 27 and the general discussion on the budget will take place thereafter. The report of the Comptroller and Auditor General for 2018-19 and 2019-20 along with Financial and Appropriation Accounts for 2019-20 and 2020-21 will also be tabled during the session.

In order to save natural resources in terms of groundwater, besides improving soil health and generating additional income for the farmers, the Cabinet also gave the green signal for providing the minimum support price (MSP) on summer moong at Rs 7,275 per quintal for 2022-23 by Markfed, the state nodal agency for the purchase of crops.

It was also decided to provide viability gap funding to the agency at the rate of Rs 1,875 per quintal, amounting to nearly Rs 66.56 crore.

During the current season, moong is being sown on about 95,000 acres with an expected yield of five quintal per acre. This will help in sowing short duration varieties of paddy which is expected to save 10-20 per cent of underground water thereby conserving the natural resources.

In a much needed succour to street vendors hit by the Covid-19 pandemic, the Cabinet also decided to waive stamp duty being levied on executing the loan or hypothecation agreement up to Rs 50,000 (third tranche loan) for the street vendors under PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme.