A growth-driven budget

Though the Punjab budget is progressive, it remains to be seen whether statistical provisions walk the talk or not

Amidst one of the most contested political tug-of-war scenarios, the province of Punjab finally got its budget for fiscal year 2022-23. In a surprise decision, the Punjab Governor summoned a parallel session of the house, apart from the one being held in the Assembly premises; and this led to sharpening of knives, as well as a bad taste as to how politics has dipped to personal lows. Speaker Pervez Elahi stood fast with his adamant attitude that until and unless the bureaucratic hierarchy is castigated for meddling in house affairs, he will not let the budget session go ahead. The PML-N after a trial and error episode opted for extraordinary measures by going solo at the discretion of the constitutional head of province, and the budget went through.

The total outlay of the budget is Rs3,226 billion, with no new taxes. It has some innovative features to address the backlog of developmental schemes as well as relief to the pressed-on masses. A hefty amount of Rs685 billion has been earmarked under ADP with a special focus on uplifting the strata below the poverty line. Social sector leads from the front as a staggering Rs272.6 billion goes into it, which includes Rs172.5 5 billion and Rs64.56 billion for health and education sectors, respectively. Likewise, Rs164 billion are there for infrastructure development with a specific pie of Rs80.8 billion for the roads. These generous slots come with a proposition of 15% increase in salary scales for the public sector and 5% raise in pensions. With a 20% rise in relief packages, Rs190.58 billion have been vested for social welfare for a populace of 125 million, including Rs100 billion for utility support programme, beside a special slot of Rs31.5 billion for south Punjab alone.

Though the budget is progressive, it remains to be seen whether the statistical provisions walk the talk or not. In a highly polarised environment, in which the provincial politics is in these days, the need of the hour is to create space for reconciliation at least in the economic milieu. Soaring inflation and a depreciating rupee have made life tough, and this is where the public representatives have a role to play in making the national discourse convenient. Punjab for long has been an oasis for development and this is why this year also 47% of ADP has gone towards infrastructure. This resolve, however, will remain half-baked and unaccomplished if political stability is not ushered in.

Published in The Express Tribune, June 17^th, 2022.

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