Highlights of Punjab Budget 2014-15

Broadening  the tax net instead of burdening the existing taxpayers and setting up of coal and solar power plants from own resources are the highlight of Punjab government’s over Rs1 trillion budget for the next fiscal year

Following in the footsteps of the federal government, the provincial administration would also propose a 10 per cent increase in the salaries and pensions of its serving and retired employees.

Out of the estimated Rs330 billion annual development plan a sum of Rs290 billion has been allocated for ongoing and new schemes. A sum of Rs40 billion has been set aside for chief minister’s initiatives like Daanish Schools, Ashyana Housing Schemes and others special programmes in the development sector.

Envisioning an annual growth rate at eight per cent during the next four years, the government plans to equip 400,000 youth with skills and create approximately one million jobs every year.

With an initial allocation of Rs20 billion, Metro bus projects would be started in Multan and Faisalabad during the next financial year.

Under the National Finance Commission Award, Punjab would get Rs812 billion from federal divisible pool while expecting Rs21 billion in grants and loans from international donor agencies for development sector.

“The Punjab expects to generate Rs150 billion from the existing taxes and Rs60 billion from non-tax heads. There would be reforms in the provincial taxation system to net the under taxed or untaxed people. Owners of five-marla houses in the A-category will have to pay property tax while the scope of GST on services has been proposed to be extended to 43 sectors from the present 37.

In order to minimise the ongoing energy crisis, the Punjab government plans to establish from own resources coal and solar power projects. A sum of Rs31 billion has been allocated for setting up coal power plants in Rahim Yar Khan and Muzaffargarh.

In the education sector, provision of laptops to talented secondary school students would be continued while setting up of information technology labs have been proposed in all middle schools of the province.

A veterinary university in Bahawalpur and an IT University in Rahim Yar Khan has also been proposed to be set up during the next fiscal year.

 

 

Press Release

1.The Punjab budget is a key and basic document of a revolutionary welfare programme.
2.Elimination of load shedding is top priority of present government and Punjab government has allocated Rs 31 billion for energy sector in new financial year.
3.Rs 17 billion have been allocated for Quaid-i-Azam Solar Park in the next financial year.
4.People and trade institutions will be motivated to use low electricity consuming equipment and for this purpose 2.5 billion rupees have been allocated.
5.Government has decided to allocate 36 percent of total development funds of the province for South Punjab in the next budget.
6.Projects worth Rs 263 billion have been started in South Punjab and a sum of Rs 119 billion has been allocated for these projects during next year.
7.The dream of development cannot be materialized without ensuring protection of human lives and maintenance of law and order. Government has enhanced 16 percent of police budget and allocated Rs 81.68 billion in the next year’s budget.
8.An amount of Rs 5 billion has been allocated for meeting additional needs of law and order and coping with terrorism.
9.Government has allocated an overall amount of Rs 273 billion for education sector at provincial and district level.
10.Rs 48.31 billion are being allocated for development projects relating to education sector.
11.Rs 14.05 billion have been allocated for development budget of Punjab Higher Education.
12.Punjab government has allocated a total of 121.80 billion rupees for health sector at provincial and district level in the next budget.
13.Yellow cab scheme has proved to be very popular among the people due to which 50 thousand more yellow cabs worth Rs 25 billion would be distributed among the people enabling 50 thousand families earn their livelihood.
14.A huge amount of Rs 17.11 billion has been allocated for different projects of potable water and drainage of water under public health.
15.Government has allocated 14.97 billion rupees for the promotion of agriculture and welfare of cultivators.
16.Government has decided to give subsidy of five billion rupees to the farmers for providing fertilisers.
17.A sum of Rs 50.8 billion has been allocated for the rehabilitation of irrigation system, development of water resources and maintenance of canals.
18.Rs 39.56 billion have been allocated for communication & works sector.
19.Rs 8.93 billion have been allocated for the uplift of livestock sector.
20.Rawalpindi-Islamabad metro bus project will cost 41.40 billion rupees and this project would be completed during next financial year.
21.Metro bus has project been announced for Multan which will be completed at a cost of Rs 30 billion.
22.27.1km-long metro train project is being launched in provincial metropolis, which will be completed in a record period of 27 months with investment China.
23.A programme has been chalked out for imparting technical education to 2 million persons during next four years and a huge amount of six billion rupees will be spent on it.
24.Two billion more rupees have been allocated for Punjab Educational Endowment during next financial year.
25.Five Daanish Schools would be set up at Mailsi, Lodhran, Jhang, Taunsa and Fort Monroe during next year and Rs 2 billion have been purposed for this purpose.
26.There is a proposal of allocating 7.5 billion rupees for Punjab Educational Foundation.
27.Rs 1.2 billion are being allocated in the next budget for converting IT labs in high and secondary schools on solar energy.
28.Rs 3.5 billion are being allocated for giving 100,000 laptops to talented students on merit.
29.Rs 4 billion are being allocated for issuance of health insurance cards due to which low income people will get the facility of free treatment in public and private institutions, one billion rupees are being allocated for mobile health unit.
30.Rs 4.14 billion are being allocated for land record computerization in new financial year.
31.It has been decided to allocate two billion rupees for distribution of interest free loans for providing job opportunities to jobless youth.
32.Rs 2.56 billion have been allocated for the promotion of forests, fisheries and wildlife.
33.Government has allocated a huge sum of five billion rupees for the provision of edible items at reasonable rates to low income people during the month of Ramazan.
34.In order to ensure active role of women in socio-economic sector, a sum of Rs 1.86 billion has been allocated in the budget.
35.A plan has been made for construction of 20 thousand houses for labourers during the next financial year while four new Aashiyana schemes will be launched.
36.Tax evasion would be checked through transparency in tax system and better supervision. Additional revenue of about Rs 15 billion is expected to be generated due to these steps.

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