LAHORE: Punjab government is going to present the Punjab budget for fiscal year 2020-21 in the provincial assembly on Monday, June 15 (today). Punjab Finance Minister Makhdoom Hashim Jawan Bakhat will deliver the budget speech in the house.
According to sources, due to Covid-19 pandemic no new tax was being introduced while relaxations were given on the existing taxes on the services sector. The ease of taxation payment was being ensured in excise and taxation and Board of Revenue (BoR). Concrete steps were being taken for the agriculture growth. Further, for rural areas special focus was given to the people attached with agriculture economy through public private partnership projects.
Special funds were allocated for COVID-19 pandemic and locust attack besides allocation of resources to counter the pandemic and emergencies in the future. The special focus had also been given to the corona pandemic and allocations were made accordingly to the departments.
Further, financial assistance was being ensured to Small and Medium Enterprises (SMEs) sector .The budget focused on the social protection, ensuring work for daily wagers, and industrial revival.
It is pertinent to mention here that the public opinion was kept in consideration. According to sources, approximately 68 per cent budgetary allocations were made to education, health and employment generation was focused.
The forthcoming Punjab Budget is evolved with the policy of inclusive as budget proposals and suggestions sought from the public by the Punjab Finance Department have also been included in the provincial budget.
The sources in the finance department said that this was for the first time that public was included in the budget making process and finance department advertised in the national dailies seeking public budget proposals which were included in the budget.
Comments
Comments are closed.