PTI presents tax-free ‘relief budget’ in light of coronavirus situation

Federal Minister of Industries and Production Hammad Azhar presented Rs7.14 trillion ‘tax-free’ budget 2020-21 on Friday. The budget for fiscal year 2021 comes amid a health crisis that caused our GDP to shrink by Rs3,300bn, and has been referred to as the ‘corona budget’. As Azhar highlighted the PTI-led government’s efforts to streamline the economy, he was challenged by the opposition’s loud jeering.

Source: NewsLab

The Federal Board of Revenue (FBR) revenue target was kept at Rs4.95 trillion for next year while defence allocations amounted to around Rs1.3 trillion.

Allocations for education have been budgeted at Rs83.3 billion, up 7.9pc from last year’s Rs77.2 billion. Health allocations for the next year have more than doubled (130pc rise) to Rs25.5 billion from last year’s Rs11 billion.

The federal development programme was budgeted at Rs650 billion to support growth prospects.

Following are the highlights of allocations under the PSDP for various ministries and divisions for the FY 2020-21:

– Total outlay of the PSDP for the fiscal year 2020-21 is Rs1.324 trillion — The share of federal PSDP is Rs650 billion while that of provincial PSDP is Rs674 billion.

– Rs1320 million has been earmarked for Aviation Division.

– Board of Investment will get Rs80 million.

– Rs47,802 million have been earmarked for Cabinet Division.

-The Climate Change Division will get Rs5,000 million.

– Rs103 million have been set aside for Commerce Division.

– Rs 254 million are allocated for Communication Division (other than NHA).

Read more: Govt sets total size of budget at Rs7.14tr

– Rs660 million have been earmarked for Defence Division.

– Rs1,579 million have been set aside for Defence Production Division.

– Rs282 million are allocated for Establishment Division.

– The Federal Education and Professional Training Division will get Rs4,526 million.

– Rs66,666 million have been allocated for Finance Division.

– Rs10 million has been provided for Foreign Affairs Division.

– The Higher Education Commission (HEC) will get Rs29,470 million.

– Rs8,736 million have been earmarked for Housing and Working Division.

– Rs256 million will be provided to Human Rights Division.

– Rs800 million have been set aside for Industries and Production Division.

– Rs360 million are allocated for Information and Broadcasting Division.

– Rs6,672 million will be provided to Information Technology and Telecom Division.

– R 929 million have been set aside for Inter-Provincial Coordination Division.

– Rs14,758 million have been granted for Interior Division.

– Rs52,424 million have been earmarked for Kashmir Affairs and Gilgit-Baltistan Division.

– Rs991 million have been earmarked for Law and Justice.

Read more: Live updates on budget 2020-21

– Rs2,683 million have been allocated for Maritime Affairs Division.

– Rs53 million have been granted to Narcotics Control Division.

– Rs12,000 million have been earmarked for National Food Security and Research Division.

– Rs14,508 million have been allocated for National Health Services, Regulation and Coordination Division.

– Rs194 million have been provided for the National Culture and Heritage Division.

– Rs23,297 million have been earmarked for Pakistan Atomic Energy Commission.

– Rs350 million have been set aside for Pakistan Nuclear Regulatory Authority.

– Rs1,786 million have been earmarked for Petroleum Division.

– Rs3,545 million have been allocated for Planning, Development and Special Initiatives Division.

– Rs135 million have been allocated for Poverty Alleviation and Social Safety Division.

– Rs24,000 million have been set aside for Railway Division.

– Rs53 million have been allocated for Religious Affairs and Interfaith Harmony Division.

– Rs1,697 million have been earmarked for Revenue Division.

– Rs4,458 million have been earmarked for Science and Technology Research Division.

– Rs4,975 million have been earmarked fr SUPARCO.

– Rs81,250 million have been allocated for Water Resource Division.

– Rs118,674 million have been set aside for National Highway Authority.

– Rs39,649 million have been allocated for NTDC/PEPCO.

– Rs3,000 million have been earmarked for ERRA.

– Rs70,000 million have been set aside for COVID Responsive and Other Natural Calamities Programme.

Source: The News