LAHORE - Punjab Finance Minister Mujtaba Shujaur Rehman on Monday presented before the provincial assembly the budget for the fiscal year 2013-14 with a total outlay of Rs 897,569.311 billion with energy, health and education and infrastructure sectors getting the top slots. The provincial government also expressed its intention to introduce an agriculture tax with effect from the next year. It seemed that it was shying away from taking a tough decision so early in the day despite enjoying a heavy mandate in the province. According to the budgetary figures, the current expenditures for the year 2013-14 have been estimated at Rs 607,569.311 million while last year’s estimates were Rs 549,762.393 million. Of the total divisible pool, the Punjab government is expected to get Rs 702 billion as its share compared to last year’s Rs 568,769.226 billion, showing an increase of 23.5 percent. The Punjab government will have net tax receipts estimated at Rs 126,702,799 million while revenues from non-tax receipts will be Rs 43,129.872 million. The provincial government had to face a shortfall of Rs 98 billion in its share of divisible pool last year due to the federal government’s inability to meet its revenue collection target. According to the budget document, an important tax reform this year is a provision in the Finance Act whereby persons declaring agricultural income in their income tax return will be required to pay agriculture income tax to the Punjab government. The government has also announced taxes for houses on areas measuring two kanals and above. The estimated expenditures on the general public services, including transfers to the local governments are Rs 345,327.434 million, on Public Order and Safety Rs 92,718.858 million, Economic Affairs Rs 75,652.940 million, Environment Protection Rs 116.730 million, Housing and Community Amenities Rs 4,002.789 million, Health Rs 44,629.627 million, Recreational and Cultural and Religion Affairs Rs 1,334.779 million, Educational Affairs and Services Rs 40,596.539 million and Social Protection will get Rs 2,189.615 million. The budget includes a large annual development programme of Rs 290 billion. There has been significant increase in the allocation of Health and Education as well as for infrastructure development. According to government officials, about 25 percent of the budget is related to the education sector, most of which is usually consumed in salaries. In order to protect these two sectors, the government has allocated dedicated funds for health and education. The government has allocated over Rs 20 billion for various projects in the energy sector. It plans to introduce solar tube wells for small farmers to mitigate the effects of the energy crisis on this vital sector. Sector-wise allocations in ADP are: Education Rs 25,398 million, Water Supply and Sanitation Rs 10500 million, Social Protection Rs 2200 million, LG&CD Rs 1700 million, District Development Programme Rs 9800 million, Infrastructure Development Rs 92600 million, Production Sectors Rs 14225 million, Agriculture Rs 5500 million, Service Sectors Rs 14105 million, Special Programme/packages Rs 21750 million, District/TMA Development Programme Rs 14000 million, Special Programme/Initiatives was allocated Rs 8050 million. - See more at: pakistantoday.pk/2013/06/17/news/national/punjab-presents-rs-897-billion-budget-for-fy-2013-14/#sthash.IDlY3uh7.dpuf
Posted on: Tue, 18 Jun 2013 04:51:42 +0000
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