Budget 2024-25: Punjab govt to unveil Rs 5.37 trillion Budget today

LAHORE: The Punjab government is set to unveil a gigantic budget of over Rs5 trillion in the provincial assembly today. This will encompass expenditures spanning eight months of the caretaker government and the next three months under the newly elected administration.

Provincial Finance Minister Mujtaba Shujaur Rehman will present the budget, as the preparation of the budget document has been finalized.

Sources said that the new budget will be increased by Rs910 billion compared to the outgoing year’s budget. The Punjab budget is likely to see a 20.3 percent increase, with an estimated Rs 3,700 billion expected from the NFC for the next financial year.

Punjab’s income has been estimated at Rs1,027 billion. Proposed allocations include Rs597 billion for salaries, Rs447 billion for pensions and Rs841 billion for service delivery.

Sources also said a proposed increase in salaries of government employees and pensioners in line with the federal government has been finalized, and an allocation of up to Rs125 billion has been proposed for the repayment of external loans.

Punjab Budget 2024-25

A development budget of Rs800 billion has been proposed, along with Rs600 billion for education and Rs406 billion for health. Additionally, Rs30 billion has been allocated for the Ramazan package, Rs8 billion for the CBD, and Rs1 billion for the endowment fund for the welfare of journalists.

Sources said a proposed tax collection target of Rs300 billion had been set for the Punjab Revenue Authority, Rs105 billion for the Board of Revenue, and Rs55 billion for Excise and Taxation. A non-provincial revenue target of Rs558 billion had been set for the next financial year.

It has proposed to allocate Rs121.74 billion crore for road sector schemes, Rs2 billion for special education, and Rs3.50 billion for literacy and non-formal education.

The proposed allocations include Rs4.87 billion for sports and youth affairs, Rs76.61 billion for specialist health care, and Rs33.89 billion for primary health care.

Rs3 billion has been recommended for the Population Welfare Department, followed by Rs8.99 billion for water supply and sanitation and Rs1.579 billion for social welfare.

It has been recommended to spend Rs92.6 million on the Women Development Department, Rs20.78 billion on public structures, and Rs24.38 billion on urban development.

Furthermore, Rs10.798 billion is suggested for the Department of Industries, and Rs37.386 billion for the Department of Planning and Development.

Punjab Budget 2024-25