News

Budget 2019-20-All you need to know

Budget 2019

State Minister for Revenue Hammad Azhar on Tuesday presented the first  federal budget of the government of Pakistan Tehreek-e-Insaf (PTI) as opposition failed to unnerve him with its noisy protest.

Speaker National Assembly Asad Qaiser chaired the budget session 2019-20 held at the Parliament House.

PM Imran Khan came to the house before the minister started delivering  speech about budget.

The opposition members remained seated for the first part of the speech of the minister but later gathered close to dais of the speaker and treasury benches and shouted slogans while carrying placards.

Here’s all you need to know about the Budget 2019-20:

Annual Development Plan (ADP) 2019-20 has been designed to help implement the recommendation of the Punjab Growth Strategy 2023.

The size of ADP 2019-20 has been pitched at Rs 350 billion compare to Rs 238 billion in financial year 2018-19, in this way there would be an increase of approximately 47 percent in the size of ADP. The programme assigned the highest priority to investments in social sectors with an allocation of Rs 124.9 billion which would be more than one third of the total development resources of the Punjab.

An allocation of Rs 87.7 billion has been proposed for infrastructure development in the province. Industrial development of the province was another area of focus for the budget 2019-20.

A sizable allocation has been proposed for production sectors and special initiatives of the government. The salient features of the programme were as progression of social sectors including education, health, water supply and sanitation, focus on schemes pertaining to skills and human capital development, equitable development for all regions of Punjab, prioritization to schemes aligned with sustainable development goals, new schemes for women empowerment, social inclusion of marginalized and disadvantaged, schemes that enhance urban clusters and ensure provision of requisite services, research and development in agriculture and irrigation sectors to mitigate the climate change risks to Punjab agrarian land.

The size of recurrent expenditure 2019-20 has been pitched at Rs 1,299 billion compare to Rs 1,264 billion in financial year 2018-19 which was only 2.7 percent higher. Such a level of growth in allocation for the recurrent budget of the province was a reflection of the policy of provincial government to exercise maximum austerity and efficiency in resource allocation and utilization.

Despite a low growth in overall higher revenue mobilization was the cornerstone of budget 2019-20. The resource mobilization efforts were estimated to result in generation of additional resources worth Rs 24.9 billion in financial year 2019-20.

Under ADP 2019-20, Rs 124,900 million have been allocated for social sectors including 32,000 million for School Education, Rs 7,300 million for Higher Education, Rs 1,000 million for Special Education, Rs 2,600 million for Literacy and Non-Formal Education, Rs 4,000 million for Sports and Youth Affairs, Rs 22,000 million for Specialized Healthcare and Medical Education, Rs 23,500 million for Primary and Secondary Healthcare, Rs 2,000 million for Population Welfare, 22,400 million for Water Supply and Sanitation, Rs 1,000 million for Social Welfare, Rs 800 million for Women Development and Rs 6,300 million for Local Government and Community Development.

As many as Rs 87,700 million have been allocated for Infrastructure Development including Rs 35,000 million for Roads, Rs 23,400 million for Irrigation, Rs 6,000 million for Energy, Rs 9,800 million for Public Buildings and Rs 13,500 million for Urban Development.

About Rs 34,500 million were reserved for Production Sector including Rs 15,500 million for Agriculture, Rs 3,430 million for Forestry, Rs 520 million for Wild Life, Rs 1,050 million for Fisheries and Rs 500 million for Food.

Rs 3,500 million have been allocated for Livestock and Dairy Development, Rs 7,500 million for industries, Commerce and Investment, Rs 1,000 million for Mine & Minerals, Rs 1,500 million for Tourism, Rs 6,000 million for Governance and IT, Rs 300 million for Labour& HR Development, Rs 13,500 million for Transport, Rs 800 million for Emergency Service (1122), Rs 1,000 million for Environment & Climate Change, Rs 300 million for Information and Culture, Rs 350 million for Archaeology, Rs 300 million for Auqaf& Religious Affairs, Rs 1,000 million for HR&MA, Rs 14,000 million for Planning and Development, Rs 50,350 million for Special Programmes/Initiatives and Rs 15,000 for Community Development Programme.

Leave a Reply

Your email address will not be published. Required fields are marked *