Wednesday June 15, 2022

People-Friendly Punjab Budget Worth Rs3226b Unveiled

LAHORE: The people-friendly Punjab Budget with a total outlay of 3226 billion rupees for financial year 2022-23 was presented in Lahore on Wednesday

Presenting the budget, Finance Minister, Sardar Owais Ahmad Khan Leghari said the total volume of the budget is 22 percent more than current fiscal year, out of which 1712 billion rupees have been allocated for Current Expenditures.

He said that total estimated Revenue for next fiscal year is 2521.29 billion rupees, while the province will get over 2020 billion rupees from the Federal Divisible Pool.

The Minister said 435.87 billion rupees have been allocated for Salaries, 312 billion rupees for pensions while 528 billion rupees for Local Governments.

The Finance Minister said no new tax has been levied in next fiscal year on account of Sales Tax on Services. He said Stamp Duty ratio has been proposed to enhance from current one percent to 2 percent to raise provincial revenue.

Owais Leghari said 35 percent of the Annual Development Program amounting to 240 billion rupees has been allocated for South Punjab, which will be spent on development projects

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