Sindh CM presents Rs1.24tr financial budget for 2020-21

Sindh CM presents Rs1.24tr financial budget for 2020-21 during provincial assembly session in Karachi today (Wednesday).

Speaker Agha Siraj Durrani chaired the budget session.

Sindh CM presents Rs1.24tr financial budget

The Chief Minister said the total outlay of budget 2020-21 was Rs1.24 trillion with Rs18.38 billion deficit.

Opposition parties attempted to disturb Shah’s speech while raising lies, lies throughout the session.

Earlier, Sindh cabinet approved budget at the CM House on Wednesday.

Like federal budget, it also introduced no new taxes.

The CM said non-development expenditure estimated at Rs968.99 billion, while the development expenditure estimated at Rs232.94 billion.

He announced capital expenditure estimated at Rs39.19 billion.

Murad Shah further said total receipts  estimated Rs1.22 trillion, federal receipts Rs760.30 billion (65 per cent), provincial receipts Rs313.39 billion (26.8 per cent), capital receipts Rs25 billion (2.1 per cent) and other receipts (FPA and PSDP) Rs69.05 billion (5.9 per cent).

Meanwhile, he said non-development expenditure restricted to only seven per cent but increase had to come mainly due to provision of coronavirus-related package.

The pandemic made govt to formulate a package of Rs34.2 billion and a rise of Rs19 billion in the health sector and Rs22.9 billion in the education sector.

However, he stated austerity measures from the non-development budget have created space for the development budget.

Sindh CM cited overall federal receipts reduced by Rs71.72 billion, which constituted nine per cent of the current financial year 2019 20.

The overall provincial receipts estimated at Rs313.4 billion, nine per cent higher than current financial year.

Despite a pandemic challenge, economic slowdown and sluggish revenue targets, the Sindh government introduced coronavirus-related pro-poor social protection and economic sustainability initiatives worth Rs34.2 billion.

The Chief Minister announced that Rs3 billion allocation for poverty alleviation programme for small businesses in urban areas.

Rupees 2 billion proposed for poverty alleviation programme for small farmers in rural areas.

The govt estimated 20 billion for cash transfer under the Sindh Peoples Support Programme.