Punjab presents Rs583 billion budget

LAHORE: The Punjab government on Monday revealed its Rs583 billion budget for fiscal year 2010-11 in the assembly after approval by the provincial cabinet.

Punjab’s budget for the next financial year is projected a total outlay of Rs583 billion, including a record allocation of Rs193 billion for development expenditures.For subsidies, the provincial government has earmarked Rs 24 billion in its budget.Provincial Minister for Finance Tanvir Ashraf Kaira is presenting the budget in the assembly as its budget session is underway with Speaker Rana Mohammed Iqbal in chair.Earlier, Punjab cabinet with Chief Minister Shahbaz Sharif in chair approved provincial budget proposals in a special meeting today.