BUSINESS

PUNJAB SURPLUS BUDGET

LAHORE: The Punjab government has plans to introduce Rs201 billion excess spending plan for the budgetary year 2020-21, anticipating a pay of Rs2.38 trillion and use of Rs2.179tr. The evaluated spending recommendations include Rs322.8 billion Annual Development Program (ADP).

In spite of the way that the coronavirus pandemic has developed as one of the greatest social insurance and financial emergencies around the world and pressed Pakistan’s economy too, the Punjab government despite everything expects Rs2.38tr receipts against Rs2.3tr receipts assessed for the current 2019-20 monetary.

The spending recommendations permit the Punjab government to burn through Rs1,856.2bn during the following monetary some Rs138.6bn (eight percent) more than the present year’s proposed consumption of Rs1,717.6bn. The administration has evaluated Rs1,427.6bn for current consumption, Rs94.6bn for current capital use and Rs334bn under the head of Expenditure A/c-II Food.

Rs27bn decrease in ADP likely; tax targets revised downward; agriculture taxable income is over Rs0.6m instead of Rs0.4m. — AFP/File

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