Amidst the catastrophic situation caused by the coronavirus, partial lockdown, travel restrictions, and declining GDP rate, PTI has just announced the budget designed by their government officials. After last year’s budget, people were expecting more from this year.
We all know how important the role of the budget is and how heavily it impacts the stability of the economy, so without further ado let us help you to dive into the details of the budget 2020 from a common man’s perspective. Here are a few pointers, if you’re also looking for what budget 2020 has offered to a common Pakistani:
1. Considering the COVID-19 situation, no new taxes have been levied to provide some relief to the awaam in the budget of 2020
2. It has been announced that the salaries and pensions of government officials will not be increased
3. PKR 100 billion have been allocated to corona fund, PKR 50 billion and PKR 100 billion have been set aside for utility stores and electricity and gas bills respectively
4. Developmental projects in Gilgit Baltistan and Kashmir have been promised by the Government
5. According to the budget 2020, here are the new prices of commonly used vegetables and fruits
6. Prices have been fixed for meat and dairy products too
7. Here are the prices for daily ration related commodities announced in the new budget
8. Budget 2020 has announced to spend PKR 208 billion for the Ehsaas Program in order to alleviate poverty
9. The higher education budget has increased from PKR 60 billion to PKR 64 billion
10. According to the announcements made in the budget, people will have to show their CNICs while making a purchase of over PKR 100,000
Previously, this rule was applicable to purchases over PKR 50,000.
11. It has been decided to spend PKR 6 billion on the effects caused by climate changes
12. PKR 200 billion has been allocated for the daily wagers to lessen the impact of ongoing partial lockdown in the budget of 2020
13. A total of PKR 10 billion has been allocated to the agricultural sector to resolve the ongoing locust issue
So, what are your thoughts about the new budget 2020? Let us know in the comments below.
