Salient features of Punjab Budget 2024-25

The following are the key points of the proposed Punjab Budget for Fiscal Year (FY) 2024–2025:   

Budget Overview:

Total budget for 2024: Rs5,390 billion.
Increase from last fiscal year: Rs910 billion.

Salaries and Pensions:

Salaries Allocation: Rs597 billion.
Proposed 25% increase as ad hoc relief.
Pensions Allocation: Rs447 billion.
Proposed 15% increase for retired employees.

Subsidies:

Total subsidy increase: From Rs15 billion to Rs72 billion.
Transport: Rs24 billion.
Food: Rs22 billion.
Agriculture: Rs26.5 billion.

Special Allocations:

Ramadan Package: Rs30 billion.
CBD (Central Business District): Rs8 billion.
Chief Minister’s Roshan Gharana Programme: Rs9.8 billion.
Apni Chat, Apna Ghar Programme: Rs7 billion.
Green Pakistan Initiative: Rs40 billion.
Endowment Fund for Journalists: Rs1 billion.

Development Programmes:

Annual Development Programme: Rs842 billion.
Road infrastructure: Rs150 billion.
Education sector: Rs600 billion.
Health projects: Rs406 billion.
Local bodies: Rs65 billion.
Irrigation department: Rs27 billion.

Revenue and Allocations:

NFC (National Finance Commission) Revenue: Rs3,700 billion.
Provincial Revenue: Rs1,027 billion.

Tax Collection Targets:

Punjab Revenue Authority: Rs300 billion.
Board of Revenue: Rs105 billion.
Excise Department: Rs55 billion.
Additional Rs11 billion from agricultural income tax.
Stamp Duty: 2 to 10 times increase, additional Rs4 billion.
Cinemas and Entertainment Tax: 5% collection.
Housing, Transport, and Energy Taxes: Proposed increases.
Total Tax Collection Target: More than Rs100 billion.

Other Allocations:

Service Delivery Expenditure: Rs841 billion.
Transfer Fee Increase: 10% for motorcycles and vehicles.
Waste Management Companies: Rs120 billion.

Loans and Debt:

Foreign Loan Repayment: Rs121 billion.
External Loan: Rs100 billion for various sectors.
Debt Settlement Recommendations: Rs160 billion.

Chief Minister’s Discretionary Funds:

Increased from Rs2 billion to Rs5 billion.