LAHORE (DNA) – Punjab Assembly on Tuesday approved all 43 demands in the next financial year budget for Punjab. Its approval process will be completed along finance bill.According to the sources, the provincial budget was approved without any ruckus in the Assembly whereas total finance bill was also approved in the meeting.After the approval of finance bill, the discussion on the sub-budget bill will start.
On June 14, Pakistan Tehreek-e-Insaf-led (PTI) Punjab government unveiled the provincial budget with a total outlay of over Rs2.3 trillion for fiscal year 2019-20 in the provincial assembly.
Presenting the budget, Provincial Finance Minister Hashim Jawan Bakht said that out of total volume, Rs3.5 trillion have been reserved for development while Rs17.17 trillion for non-development purpose.
He said that an estimate of collections worth Rs1990 billion has been ascertained for General Revenue Receipts.
Punjab is expected to receive more than Rs1601 billion from federal government as its share from National Finance Commission (NFC) Award.
With an increase of 8.4 percent, more than Rs0.308 trillion have been allocated for health sector.
A total of Rs1.13 trillion with an increase of 24 percent have been allocated for agricultural sector, while Rs181.60 billion have been reserved for law and order and public safety.
The provincial minister said that Rs337.60 billion will spent under salaries, while Rs245 billion would be spent under pension in the province.
Rs437 billion would be released for districts under Provincial Financial Commission, while the tax income in Punjab during the next fiscal year would be Rs388.40 billion.
Punjab Revenue Authority (PRA) would collect Rs166.60 billion, while the board of revenue would collect Rs81.20 billion.
Rs0.3085 trillion has been allocated to health, Rs0.3829 trillion to education, Rs0.1136 trillion to agriculture, Rs0.1816 trillion to public safety and law and order, and Rs0.1493 trillion to public infrastructure. These represent respective hikes of 8.4 percent, 2.7 percent, 23.8 percent, 6.2 percent, and 6.2 percent.
A 10 percent increase has been proposed for Grade 16 employees, while a five percent increase has been recommended for Grade 17-20. No increase has been proposed for Grade 20 and 21 officers.
Hashim Jawan Bakhat added that total estimates for on-going expenditures were Rs 1,298.8 billion, containing Rs 337.6 billion for salaries, Rs 244.9 billion for pension, Rs 437.1 billion for local governments and Rs 279.2 billion for service delivery.