Punjab presents Rs2.24 trillion budget for fiscal year 2020-21

LAHORE: Provincial Finance Minister Makhdoom Hashim Jawan Bakhat on Monday presented Punjab budget for the fiscal year 2020-21 with a total outlay of Rs 2.24 trillion, ARY News reported.

Giving a break-up of the budget during his speech, he said that the total outlay of the budget 2020-21 is around Rs2,240.7 billion.

He said that special funds on a priority basis have been allocated for 11 important sectors including education, health and employment generation.

In his budget speech, Hashim Jawan Bakht said the provincial government has allocated Rs106 billion for the Covid-19 pandemic, whereas, Rs284 billion has been reserved for the health sector.

Punjab Budget 2020-21 gives the biggest TAX RELIEF in the history of the province. It a pro business and progressive budget with Rs 56 Billion of tax relief pic.twitter.com/UG9fgeIK0k

— Hashim Jawan Bakht (@HashimJBakht) June 15, 2020

“The provincial tax collection record an increase of 13 percent, whereas, Rs144bn were distributed among the needy under the Ehsaas Program,” said Bakht.

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He said that the government has allocated Rs13.30 billion for the livestock sector, meanwhile, Rs31.73bn has been allocated for the agriculture sector.

The development budget for Punjab is Rs 337 Billion. Despite tough economic conditions due to COVID 19 and revenues taking a dip, we have been able to design an ADP that gives priority to the social sectors, esp health, education, social protection. pic.twitter.com/6MeZtvdUto

— Hashim Jawan Bakht (@HashimJBakht) June 15, 2020

The entertainment duty rate is proposed to be reduced from 20pc to 5pc. All cinemas are proposed to be exempted from entertainment duty till June 30, 2021, he added.

پنجاب حکومت نے شہریوں کو معیاری سفری سہولیات فراہم کرنے کیلئے ٹرانسپورٹ کیلئے 55.7 ارب روپے کی رقم مختص کی ہے۔#PunjabBudget2020 pic.twitter.com/tYXt9aAhzc

— PTI Punjab (Official) (@PTIPunjabPK) June 15, 2020

Punjab’s budget at a glance:

• Rs280 billion has been allocated for the health sector
• Rs12billion has been set aside for Sehat Insaf Card program
• Rs391 billion rupees allocated for education
• Rs1 billion has been reserved for Naya Pakistan Housing Programme
• The development budget for Punjab is Rs 337 billion
• Rs77.6 has been reserved for infrastructure development
• The salary budget has been frozen at Rs337.60bn
• Rs13 billion has been allocated for corona control.