Punjab to unveil Rs780 billion budget today

LAHORE: The Punjab budget for financial year 2012-13 envisages a total outlay of Rs780 billion, while no new tax has been proposed.

Geo News has obtained the data relating to salient features of the budget to be presented this afternoon at 4:00 PM in the Punjab provincial assembly.

Sources said that the total outlay for the Punjab budget 2012-13 was around Rs780 billion, while no new tax has been imposed.

Laptop, yellow cab and green tractor schemes would continue, while the amounts for food subsidy and energy sector likely to be raised in the budget to be announced after few hours on Saturday. An allocation of Rs12 billion has been proposed for the energy sector projects, sources said.

Twenty percent raise in salary of the Punjab government employees has been suggested, while 18 percent increase over the previous year has been envisaged for the education and health sectors’ allocations.

Punjab’s revenue for the year 2012-13 has been estimated at Rs640 billion, while the province would be receiving Rs710 billion from the federation under NFC award.