Updated on
Summary
Punjab Finance Minister Tanveer Ashraf Kaira presented the provincial budget of Rs 583.65billion for the Year 2010-11 in Punjab Assembly session. Sasti Roti scheme, 50 percent increase in salaries of government employees and 15 to 20 percent raise in pensions is among main allocations for the budget. Hefty amount of Rs 52 billion have been allocated for Southern Punjab. He further said that all the cabinet members had voluntarily decreased their salaries by 25 per cent. Cabinet members had also decided that they will reduce office expenditures by 25 per cent.The deficit for next year's budget is Rs171 billion. The women members of Punjab Assembly chanted slogans during the budget speech. Income of Rs 500 billion is expected during the fiscal year 2010-11. Punjab is expected to receive Rs 435 billion through divisible tax collection from federal government while Rs 6 billion would be received through direct transfer. The federal government would also grant Rs 2.24 billion. The internal provincial tax collection is expected to be around Rs 91.57 billion, while non-tax earnings would be around Rs 22.17 billion. The developmental budget for the province is Rs 193.5 billion while Rs 385 billion has been allocated for current spending.Cumulative subsidy worth Rs 21 billion will be granted through different schemes. Rs 7 billion have been allocated for subsidizing wheat. Rs 68.20 billion have been allocated for the uplift of the social sector. Rs 7.05 billion have been granted for enhancement of service sector. Rs 1.70 billion have been granted for construction of small dams. Rs 6 billion have been assigned for free medicines at government hospitals. Large amount of Rs 63 billion has been granted for maintaining law and order in the province.Finance Minister Taneveer Ashraf Kaira also announced that free books worth Rs 1.80 billion would be distributed among needy and deserving candidates. Rs 4.9 billion would be distributed among 4600 schools in the province to improve computer facilities. Rs 560 million have also been allocated for providing houses to lower earning class. As many as four new medical collages would be built in the province.Earlier during the day Punjab cabinet with Chief Minister Shahbaz Sharif in chair approved provincial budget proposals in a special meeting today.
