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The Punjab government is likely to present over Rs 1 trillion budget for fiscal year 2014-15, with expected annual development plan of Rs 330 billion while luxury tax would be introduced on luxurious vehicles.
The government has also decided to launch health insurance scheme with the allocated amount of Rs 4 billion for pro-poor initiatives.
According to a proposed plan, the government is considering to expand the provincial tax base for fiscal space creation to increase development sector spending. The different committees are constituted to expand the provincial tax base. These committees are discussing different proposals of imposition of new taxes or increasing the rates on existing taxes.
In the proposed ADP the government has focused on education, irrigation and skill development energy.
In education sector the proposed allocation is around Rs 30 billion, Rs 32 billion for energy sector, and Rs 4.5 billion for livestock development, and Rs 7 billion for agriculture sector.
The government has allocated around Rs 19 billion for the special initiatives and Rs 7 billion for skill development. The sources said that skill development is another important focused area of the forthcoming provincial budget. The government has planned to train produced two million skills graduates during the next five years. Thus 400,000 skills graduates would be passed out annually. The skills development was completed by funding the TEVTA, PVTC and PSDF.
The government has allocated almost Rs 15 billion for buildings and infrastructure development under its governance programme. Under this programmes around Rs 7 billion would be spent on police department development programmes.
The mega project of governance is command and control centre while new police stations buildings and upgrade of existing would also be made under the proposed plan.
The government has also planned to complete Rawalpindi Metro Bus Project in the coming fiscal year by allocating Rs 12 billion for it. However, so far no allocation has been made for the Lahore Ring Road project this year. Sources said that the government has been considering to the remaining part of the Lahore Ring Road through Public Private Partnership.
Other than this some initial amount could also be allocated for Multan Metro Bus project in the forthcoming budget under Chief Minister Special Initiative head. Initially, the government was considering starting Faisalabad Metro Bus project after completion of Rawalpindi Metro Bus project. However, Rs 400 million allocations have been made to provide interchange on motorway for Faisalabad under Highways projects. This project would be initiated in this forthcoming budget and further allocations would be made in the next budgets.
Punjab to present Rs1 trillion budget - thenews.com.pk
The government has also decided to launch health insurance scheme with the allocated amount of Rs 4 billion for pro-poor initiatives.
According to a proposed plan, the government is considering to expand the provincial tax base for fiscal space creation to increase development sector spending. The different committees are constituted to expand the provincial tax base. These committees are discussing different proposals of imposition of new taxes or increasing the rates on existing taxes.
In the proposed ADP the government has focused on education, irrigation and skill development energy.
In education sector the proposed allocation is around Rs 30 billion, Rs 32 billion for energy sector, and Rs 4.5 billion for livestock development, and Rs 7 billion for agriculture sector.
The government has allocated around Rs 19 billion for the special initiatives and Rs 7 billion for skill development. The sources said that skill development is another important focused area of the forthcoming provincial budget. The government has planned to train produced two million skills graduates during the next five years. Thus 400,000 skills graduates would be passed out annually. The skills development was completed by funding the TEVTA, PVTC and PSDF.
The government has allocated almost Rs 15 billion for buildings and infrastructure development under its governance programme. Under this programmes around Rs 7 billion would be spent on police department development programmes.
The mega project of governance is command and control centre while new police stations buildings and upgrade of existing would also be made under the proposed plan.
The government has also planned to complete Rawalpindi Metro Bus Project in the coming fiscal year by allocating Rs 12 billion for it. However, so far no allocation has been made for the Lahore Ring Road project this year. Sources said that the government has been considering to the remaining part of the Lahore Ring Road through Public Private Partnership.
Other than this some initial amount could also be allocated for Multan Metro Bus project in the forthcoming budget under Chief Minister Special Initiative head. Initially, the government was considering starting Faisalabad Metro Bus project after completion of Rawalpindi Metro Bus project. However, Rs 400 million allocations have been made to provide interchange on motorway for Faisalabad under Highways projects. This project would be initiated in this forthcoming budget and further allocations would be made in the next budgets.
Punjab to present Rs1 trillion budget - thenews.com.pk
