Lahore: The Punjab government is planning to present a surplus budget worth PKR 201 billion for the financial year (FY) 2020-21 (June 12), according to a news source. This budget proposal predicts an income of PKR 2.38 trillion, with an expenditure of PKR 2.179 trillion. It also features an Annual Development Programme (ADP) worth PKR 322.8 billion.
These budget proposals will allow the provincial government to spend PKR 1,856.2 billion during the next fiscal year — 8% higher than the previous year’s PKR 1,717.6 billion expenditure. It has estimated PKR 334 billion under the head of expenditure A/c-II Food, PKR 94.6 billion for current capital expenditure, and PKR 1,427.6 billion for current expenditure.
Apart from this, the government is expecting a PKR 322.8 billion ADP against the current year’s PKR 350 billion. The PKR 1.784 trillion general revenue it expects includes PKR 1.466 trillion from the divisible pool, and PKR 318.3 billion from the tax receipts, as well as PKR 88 billion from non-tax receipts.
The government has also estimated PKR 42.7 billion from current capital receipts, PKR 89.3 billion from foreign project assistance, PKR 30 billion from the Public Sector Development Programme (PSDP), and PKR 334 billion from the Receipt A/c-II Food.
The Board of Revenue will also collect an estimated PKR 65 billion, while excise and taxation will have a collection target of PKR 32 billion.
These surplus budget proposals, along with many other details, will be reviewed by the resource mobilization committee that will be chaired by Chief Minister Usman Buzdar.
