Rs739 billion Sindh budget presented

KARACHI: Sindh Finance Minister Murad Ali Shah presented the Rs739 billion budget in the provincial assembly here on Saturday.

During the budget presentation speech of the finance minister, opposition members chanted ‘shame shame’ in the Sindh Assembly.

The budget allocates Rs214 billion to development which is equal to 29 per cent of total expenditure. It has also been announced that 14,224 new jobs will be created.

Rs 144.67 billion have been allocated for education and Rs 57 billion for health.

The provincial finance minister also stated in the speech that last year the centre had provided Rs 22 billion to Sindh while this year that figure was Rs10 billion.

Following are the salient features of Sindh government’s budget for the fiscal year 2015-16:

Receipts of the province

The total receipts of province for financial year 2015-16 are estimated at Rs726.57 billion as against budget estimate of Rs672 billion for the current fiscal year showing overall increase of 8.1 per cent.

Receipts from Federal Government on account of revenue assignment straight transfers and grants are estimated at Rs494 billion which constitute 68pc of total receipts of the province. It is an increase of 4.2 per cent against the estimated amount of Rs474 billion last year.

Straight transfers for next fiscal year have decreased substantially by 25.6pc to Rs61 billion from the budget estimates of Rs82 billion of the current fiscal year.

The receipts from federal public sector development programme (PSDP) are estimated at Rs9.6 billion showing significant decrease of 57pc over the budget estimates of Rs22.47 billion in the current fiscal year 2014-15.

The receipts on account of foreign project assistance (FPA) budgetary support loans and grants are estimated at Rs47.473 billion.
The receipts from provincial own sources on account of tax and non tax receipts are estimated at Rs144 billion which constitute 19.7pc of total receipts. This is an increase of 15.2 per cent over estimates of Rs125 billion of the current fiscal year.