Rs 356.171 billion tax-free, surplus Punjab budget unveiled: pandemonium breaks out in Assembly

Punjab Finance Minister Hasnain Bahadur Dareshak presented a Rs 356.171 billion proposed tax-free, surplus budget of the Province for the financial year 2007-08 here Thursday. This is the record fifth consecutive budget presented by the financial minister in the history of Punjab.
The budgetary speech of the finance minister was delivered in a situation in which there was a lot of noise, activity and confusion in the House where a constant shouting contest of slogans between treasury and opposition benches continued throughout the day. Even unfortunate scenes of legislators pushing each other away were visible on the occasion.
The size of Annual Development Program (ADP) of the proposed Budget 2007-08 is Rs 150 billion. The budget has a total surplus of Rs 112.684 billion whose funding would be entirely done by the province through its own resources. The provincial government while meeting the gap of Rs 38 billion in ADP would fill in this through capital accounts; public accounts and foreign assistance.
The total revenue expenditure entailed in the proposed Budget 2007-08 is Rs 243.487 billion, while this figure stood at Rs 201.080 billion in the budgetary estimates of 2006-07. In the proposed Budget 2007-08, the current account receipts remain at Rs 107.142 billion, while current capital expenditure figure is Rs 92.544 billion.
The provincial government while filling in the gap of Annual Development Program expects to receive foreign assistance of Rs 7.943 billion. Provincial contribution in this regard would be Rs 142.056 billion.
In the Annual Development Program for the proposed Budget 2007-08, there has been an increase of 72 percent in the education sector where total spending under this head would be Rs 21.480 billion. In the health sector having an increase of 51 percent, Rs 6.5 billion would be spent.
The provincial government with the increase of 25 percent in water & sanitation sector would spend Rs 6.5 billion in the proposed next budget. The Punjab government has entailed Rs 14 billion for road sector development, Rs 11 billion for irrigation sector, and Rs 3.8 billion for urban development during the next financial year.
In production sector with 154 percent increase Rs 2.8 billion would be spent on agriculture. In livestock with increase of 100 percent, Rs 1.2 billion would be spent. In industry, technical education and minerals, the provincial government with increase of 113 percent Rs 2.2 billion would be spent.
In Services Sector, the government in the next financial year would spend Rs 1.2 billion on Information Technology .On Commerce & Investment Avenue, showing 80 percent increase over the current fiscal year, provincial government intends to spend Rs 900 million.
The Punjab government in further development allocations for year 2007-08 would spend Rs 1.8 billion on Emergency Services. This amount shows an increase of 100 percent from the present financial year allocation.
Showing an increase of 51 percent from the present financial year, the provincial government intends to spend Rs 227 million on tourism, labour, transport sector in the fiscal 2007-08. The provincial government allocation for 2007-08 in environment is Rs 1 billion; access to justice Rs 400 million; planning & development Rs 2.9 billion.
Besides these measures, the Punjab government has allocated Rs 40 billion for Special Infrastructure which includes Large City Package; Lahore Ring Road; Sialkot-Lahore Motorway; Lahore Mass Transit project.
For local governments development requirements in fiscal 2007-08, the provincial government has allocated Rs 14 billion. This amount is Rs 2 billion more than of the allocation made for the current financial year. For women development Rs 500 million and for minorities Rs 1 billion had been allocated.