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Punjab presents over Rs580 bn tax-free budget - Lahore_Real_Estate - 06-15-2010 09:43 AM
LAHORE: The Punjab government on Monday presented a Rs583.64 billion tax-free budget for the year 2010-11 with a Rs193.5 billion Annual Development Programme.
Provincial Finance Minister Tanvir Ashraf Kaira said total estimates for current expenditures were Rs 386.78 billion.
He said the general revenue receipts for year 2010- 11 were estimated at Rs. 558.38 billion including an amount of Rs. 435.50 billion from the federal government in the divisible pool under the National Finance Commission (NFC) Award. Revenue of over Rs. 6.26 billion is expected from direct transfers.
Provincial tax revenue is estimated at over Rs. 91.57 billion. Receipts under the non-tax revenue head is expected at Rs. 24.63 billion which is 31 per cent higher than the estimated income of the current fiscal.
Kaira said government would provide subsidy worth Rs24 billion.
He said for law and order Rs49 billion whereas for Police Rs50.20 billion had been allocated in the budget.
"Punjab govenment has proposed development schemes in Southern Punjab worth Rs52 billion," said Kaira.
It has been proposed by the finance minister that Rs47 billion GST on services will be collected from the province.
He expressed that Rs2 billion will be spent to improve the livestock sector.
The finance minister said the government has decided to explore the possibility of solar energy to run tube wells.
Highlighting the importance of clean drinking water he said that Rs9.5 billion would be spent on the sewerage system and Rs2 billion would be used to improve the areas affected by saline water.
Kaira said government is planning to establish new medical colleges in Dera Ghazi Khan, Sialkot and Sahiwal.
The finance minister said Rs23.3 billion would be spent on the improvement of education sector while Rs1 billion had been allocated for science labs in schools.
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.
Regarding agricultural land he was of the view that land would be distributed to more than 40,000 families.
He said the Punjab government would establish a cardiac center in Quetta as a goodwill gesture at the cost of Rs 2 billion.
Kaira said Rs330 million had been allocated for control of hepatitis in the province.
In order to improve health care facilities in the province Rs1.2 billion would be spent on government hospitals.
He said government has spent Rs4.9 billion for Information Technology labs in schools.
He announced welfare schemes worth Rs21 billion.