Punjab budget.
PUNJAB'S budget for the fiscal year 2020-21 contains several headlines: significant relief in provincial taxes to businesses impacted by the Covid-19 pandemic, much bigger public interventions in the social sector through the development programme and a large economic stimulus for micro, small and medium-sized enterprises. Additionally, the budget offers substantial incentives for the construction industry, allows tax exemptions to private investors interested in collaborating with the government to jointly undertake new infrastructure schemes, and focuses on community development works for generating employment. The budget also carry some incentives meant to document the economy, besides making it easier to do business in the province. The purpose of all these measures is to rev up the provincial economy and create jobs by supporting businesses in turmoil because of the Covid-19 outbreak, which has wreaked havoc across the world, causing thousands of deaths and wiping out millions of jobs.
Indeed, Punjab in its budget for the next fiscal year proposes to do a slightly better job in dealing with the impact of the Covid-19 contagion on the people, the economy and businesses when compared to a similar exercise by the federal government. The province is not only aiming to mitigate the economic impact of the health crisis and reviving the economy through...
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