Sindh presents Rs 1.714 trillion tax-free deficit budget for FY 2022-23

The CM, who also holds portfolio of the Sindh Finance Minister tabled the budget in the Sindh Assembly.

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KARACHI, Sindh Chief Minister Syed Murad Ali Shah on Tuesday presented a Rs 1.714 trillion pro-poor with social protection and economic sustainability initiative and tax-free deficit budget for the next financial year 2022-23 amid rumpus.

The CM, who also holds portfolio of the Sindh Finance Minister tabled the budget in the Sindh Assembly.

He said that the total receipts of the provincial government for next financial year would come to Rs 1,679,734.8 billion against the expenditures of Rs 1,714,583.1 billion which shows a deficit of Rs 34.8 billion deficit.

Shah in his budget speech told the house that the overall revenue receipts would come to Rs 1,679,734.8 billion, including Rs 1.055 billion federal transfers, Rs 374.5 billion provincial receipts (Rs 167.5 billion provincial tax receipts excluding GST on services, Rs 180 billion provincial sales tax on services and Rs 27,000 million provincial non-tax receipts), Rs 51,132.8 million current capital receipts, Rs 105,567.5 million other transfers such as foreign project assistance, federal grants and foreign grants and Rs 20,000 million carry over cash balance and public accounts of the province.

He said that the provincial tax collecting organizations would achieve their collection targets such as Sindh Revenue Board (SRB) Rs180 billion, Excise & Taxation Rs 1.20 billion and Board of Revenue Rs 30 billion.

The chief minister said that the current revenue expenditures for the next financial year would be Rs 1,199,445.4 million, Current capital Expenditures Rs 54.48 billion, Development portfolio Rs 459.65 billion, including Rs 332.165 billion provincial ADP, Rs 30 billion district ADP, and Rs 91.467 billion Foreign Assistance Project (FAP) and Rs 6.02 billion other federal grants.

The CM Murad Ali Shah said that the provincial government, during the 11 months (July to May) of outgoing financial year, has received Rs 716 billion against a share of Rs 732 billion which shows a shortfall of Rs 16 billion. Shah added that his government during the said period received Rs 45 billion in straight transfers and in OZT by receiving Rs 18.9 billion against a share of Rs 19.7 billion.

He said that for the next financial year, size of development budget will be Rs 459.658 billion as compared to Rs 329.033 billion in year 2021-22, that will include Rs 332.165 billion for Provincial ADP and Rs 30 billion for Districts ADP. Foreign project assistance of Rs.91.468 billion from the development partners and Rs 6.025 billion are expected from Federal PSDP grant for schemes being executed by Government of Sindh.

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