LAHORE: The Punjab cabinet approved the provincial budget for fiscal year 2015-16 on Friday. The budget with a total outlay of Rs 1.447 trillion will be presented by Punjab Finance Minister Dr. Ayesha Ghuas Pasha later today.
Rs 400 billion in the budget have been allocated for development projects in the province. According to sources no new tax is expected to be imposed in the budget.
Rs 57 billion have been allocated for education, Rs45 billion for health, Rs51 billion for roads and bridges.
It is expected that the budget will allocate Rs 29 billion for production and Rs 39 billion for the services sectors while Rs 31 billion will be allocated for energy.
A seven per cent increase in the salaries and pensions of government employees is also expected.