Punjab Unveils Rs. 3.226 Trillion Budget for FY23

Provincial Minister Sardar Awais Ahmad Khan Leghari Wednesday presented the Rs. 3.226 trillion tax-free budget of Punjab or fiscal year 2022-23.

The government has allocated an amount of Rs. 685 billion under the Annual Development Programme (ADP), with a focus on pro-poor initiatives and controlling inflation.

Giving a break-up of the budget, Leghari said that the province estimated its total revenue collection at Rs. 2,521.29 billion, under which it would receive Rs. 2,020.74 billion from the federal divisible pool, while provincial receipts are estimated at Rs. 500.53 billion for FY23.

An amount of Rs. 470 billion had been allocated for the health sector. In addition, Rs. 231 billion has been allocated for public safety and order, and Rs. 78 billion for the construction and renovation of roads.

To boost the education sector, the provincial government has allocated a budget of Rs. 485 billion for education as well as Rs. 3.2 billion for the distribution of free books in the province.

For South Punjab, the government has allocated a development budget of Rs. 240 billion to raise the region’s overall standard of living.

The agriculture sector has been allocated Rs. 14.77 billion as well as an additional Rs. 45 billion for raising agriculture productivity in the province. The industrial sector has been allocated Rs. 23.83 billion for the next fiscal year.

The minister, during his speech, said that price of flour would be decreased to Rs. 490 per kg from Rs. 650 per kg. For this subsidy, the government has allocated a budget of Rs. 200 billion.