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Punjab Govt approves tax free budget 2024-25

Punjab Govt approves tax free budget 2024-25

Punjab Govt approves tax free budget 2024-25

Punjab Govt approves tax free budget 2024-25

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LAHOE: The Punjab Cabinet on Thursday approved the biggest tax free budget 2024-25 in the history.

A provincial cabinet meeting was held under the chairmanship of Chief Minister Punjab Maryam Nawaz, in which the cabinet approved the budget of 5446 billion rupees, after which Chief Minister Punjab also signed the budget document 2024-25.

According to the documents, no new tax has been imposed in the provincial budget, nor has the rate of existing taxes been increased, the revenue will be increased by 53% from financial sources without increasing the tax.

Last year the revenue target was 625 billion rupees while the current revenue target has been set at 960 billion rupees and this revenue will be collected by the province from its own sources.

An increase of 20 to 25 percent in the salaries of provincial employees and 15 percent in pension has been approved, while the minimum wage in the province is proposed to be increased from 32,000 to 37,000 .

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In the budget, Rs 35 billion rupees have been allocated for Lahore Redevelopment Authority and 5 billion rupees for Murree, 80 billion rupees have also been approved for Chief Minister District Development Program.

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In the provincial budget, 30 billion rupees have been set aside for the Chief Minister Green Tractor Program, while 2 billion rupees have been allocated for the Livestock Card, and 2 billion rupees have been allocated for the Himmat and Nighaban cards.

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