Punjab budget to be presented on Monday

LAHORE: Punjab Budget for fiscal year 2020-21 will be presented in the provincial assembly on Monday (tomorrow), ARY News reported.

Punjab Finance Minister Makhdoom Hashim Jawan Bakhat is expected to submit the provincial budget for fiscal year 2020-21 in the provincial assembly.

The volume of upcoming Punjab Budget, which will be tax free, is proposed above 2220 billion rupees with allocation of 1780 billions for current expenditure, sources said.

According to budget proposals, the annual development programme of the province will be 337 billion rupees with a proposal to enhance the agriculture income tax rate, sources said.

Health and education have been treated as priority sectors in budget preparation, sources said. The provincial budget proposes allocation of Rs. 125 billions for primary health and Rs. 130 billions for specialized health sector with seven percent increase in allocation.

Moreover, 323 billion rupees allocation has been proposed for school education, according to the sources.

The budget also proposes 132 billion rupees allocation for police department with 17 pct raise, sources said.

Punjab budget proposes recruitment on 8519 vacancies of health professionals in the province.

Provincial budget proposals also included 10 billion rupees allowance for the health professionals fighting with the coronavirus pandemic.

The budget documents also recommend no raise in salaries and pensions of the government employees.

The budget documents also suggest allocation of 30 billion rupees for small and medium business sector along with 15 billion rupees tax relief package, sources said.

The budget proposals will be submitted before the cabinet for endorsement and later will be presented in Punjab Assembly session for approval on Monday.