LAHORE: Provincial Finance Minister Dr. Ayesha Ghous Pasha on Monday presented a balanced and public-welfare budget having total outlay of Rs 1681.41 billion with Rs 550 billion Annual Development Programme (ADP) in the Punjab Assembly session chaired by Speaker Rana Muhammad Iqbal.
Giving break-up of the budget receipts and expenditures, she said that next financial year’s general revenue recipts estimated at Rs 1319 billion, as the provincial government would receive a total of Rs 1039 billion from federal divisible pool under National Finance Commission (NFC) Award, while a total Rs 280 billion from provincial own revenues which include 184.40 billion tax revenue and Rs 95.61 billion non-tax revenues.
Dr. Ayesha Ghous said that out of the Rs 550 billion ADP, Rs 168.87 billion had been proposed to be allocated for vital social sector that encompasses Education, Health, Water Supply and Sanitation, Women Development and social security. He mentioned that social sector development budget consisted of 31 percent of the total ADP.
She said that next fiscal year’s the ADP of Rs 550 billion was 37.5 percent higher than the Rs 400 billion ADP of current financial year ending June 30, 2016. She expressed the hope that huge allocation for the ADP would result in creation of 500,000 new employment opportunities due to intitiation of developmental programmes.
During the next Financial Year, she added, the government’s total running expenditures/non-development funds estimates calculated at Rs 849.94 billion.-APP