The federal government has presented a budget of over Rs. 71 trillion 36 billion rupees. In which no new tax has been announced. In the budget for the next financial year, the Federal Board of Revenue (FBR) has set a revenue target of Rs 49.50 trillion, while about Rs 13 trillion has been set for defense expenditure in the next financial year.
In addition, Rs. 650 billion has been allocated for the Federal Development Program.
Budget 2020-21: 20 billion allocated for technology development
This year, while the federal government announced special funds to deal with the locust and corona epidemic, budgets in several sectors, including education, health, and defense, were significantly increased.
This year, the federal government has also allocated the budget for science and technology, e-governance, and special projects for youth. The government has proposed Rs 20 billion this year for the development of science and information technology (IT) and its various projects.
While the government allocated the budget for science and technology, it also announced special budgets and funds for the promotion of e-governance.
Federal Minister Hamad Azhar said that it was the vision of Prime Minister Imran Khan to improve the delivery of public services by the government through e-governance.
According to him, on the special directive of the Prime Minister, the Ministry of Information Technology has prepared a plan to connect all the ministries and divisions electronically. More than one billion rupees have been allocated for the implementation of this project.
In addition, the federal government has allocated a separate budget of Rs 12 billion for food security. The budget allocated for food security will be spent on food security development projects, including food security.
In addition, the PTI government has released a budget of Rs 2 billion for the youth welfare and development program ‘Kamyab Jawan.
More than Rs 25 billion allocated for health and Rs 83 billion for education
In the budget for the next financial year, the amount allocated for health has been significantly increased and it has been increased to more than Rs. 25 billion.
The budget presented in the budget document states that Rs 11 billion was allocated for health for the current financial year 2019-20, but for the next financial year 2020-21, it has been increased by about (130%). According to the document, the government has set aside Rs 25.50 billion for health for the next financial year.
Educational Affairs and Services
Similarly, the second full budget of the PTI government has also increased the expenditure on education for the next financial year.
According to the budget documents, the budget for education and services has been increased by about 7.9% for the next financial year.
It should be noted that in the current financial year 20-2019, this amount was allocated Rs. 77.20 billion which has been increased to Rs. 83.36 billion.
Budget 2020-21: One Billion Allocated for Artist Welfare Fund, Funds Released for Entertainment
The government also tripled funding for artists’ welfare. The federal government has proposed to increase the funds for the welfare and financial support of artists for the next financial year from Rs 250 million to Rs 1 billion.
While presenting the budget, Federal Minister Hamad Azhar said that the budget of the Artist Welfare Fund was being increased on the special directive of President Arif Alvi.
He said that artists are a valuable asset of our country and for their financial support and welfare, on the direction of the President of Pakistan, the government has increased the amount of Artist Welfare Fund from Rs. 250 million to Rs. 1 billion.
Budget 2020-21: The government has allocated Rs 14 billion for 3 hospitals in Karachi
According to the report, according to the statement of the federal budget for the year 2020-21, the federal government has allocated Rs 14.18 billion to run these hospitals.
Out of which Rs. 9.24 billion was allocated for NICVD, Rs. 3.87 billion for JPME and Rs. 1.7 billion for NICH.
The largest share of the federal fund was allocated for NICVD which is Rs. 9.24 billion. The purpose of this is not only to run the Central Hospital in Karachi but also to run its branches and chest pain units in other parts of Sindh.
The federal government has allocated Rs 3.87 billion for Jinnah Hospital. Out of which Rs 1.54 billion will be spent on its operational expenses and Rs 158.66 million on repairs and maintenance.