“This is the biggest budget in history of the province,” says Punjab Finance Minister Hashim Jawan Bakht.
The budget was unanimously approved by the Punjab cabinet
The total outlay of the budget is increased by more than 18%.
Economy
India is the largest rice exporter in the world, netting $6.8 billion in annual earnings, with Pakistan in the fourth position at $2.2 billion, according to UN figures.
Rs170m proposed for ‘deployment of forces in aid of civil administration.
During the first 10 months of the current fiscal year (10MFY21), LSM grew by 12.84pc.
Poor people will get Loans up to Rs2 million to build a roof and loans to poor farmers will go up to Rs500,000.
The expenses planned to be incurred on the armed services constitute 16 per cent of the total outlay of the budget, which is Rs8.48 trillion. Moreover, the allocation is 2.54 per cent of the GDP.
The revenue measures under IT will generate Rs116bn, followed by Rs215bn from ST & FED and Rs53bn from CD measures. The net revenue impact will be Rs264bn after deduction of relief measures.
The government is all set to increase salaries and pension of public sector employees, as 25 percent disparity allowance.