Punjab Allocates Rs700bn Development Budget for Next Fiscal Year

The Punjab government is gearing up to allocate a substantial development budget of Rs700 billion for the upcoming fiscal year.

The budget is intended to fuel progress and growth across various sectors in the province.

A comprehensive overview of the budget reveals that a total of 4,211 schemes worth Rs620.59 billion have been included in the proposals. Of these, 2,805 schemes worth Rs391 billion are ongoing, while 1,391 new schemes worth Rs195.39 billion are set to be initiated in the next financial year.

Moreover, Rs33.82 billion have been allocated for other development projects, as per the budget documents. 

Read more: Government Opts Not to Tax Pensions in FY25 Budget

The budget also outlines plans to complete 1,863 schemes in the next financial year, with a target of finishing 1,617 ongoing schemes and initiating 246 new projects. 

Among the key sectors targeted for development, more than Rs121 billion have been allocated for road infrastructure projects, demonstrating the government's emphasis on improving connectivity and transportation networks across the province. Furthermore, over Rs110 billion have been allocated for the healthcare sector, underscoring the importance of enhancing healthcare facilities and services for the citizens of Punjab.

Other significant allocations include Rs14.4 billion for local government initiatives, Rs2 billion for special education, and Rs3.5 billion for literacy and non-formal education programs, reflecting the government's commitment to promoting education and empowering local communities.

In addition, the Department of Industries is set to receive Rs10.79 billion, while the Planning and Development Department will be allocated Rs37.38 billion, the documents stated.