STAFF REPORT ISB: The Punjab government has allocated a sum of Rs 13,160 million collectively for the agriculture and livestock and dairy development sectors for the year 2014-15 against the allocation of Rs 7,974 million in 2013-14. As per budget documents, the allocation for agriculture is Rs 7,960 million while for the livestock and dairy development it has been proposed to allocate a sum of Rs 5,200 million for the year 2014-15.
Agriculture and livestock have immense economic potential as these provide food and fiber besides being major source of foreign exchange. Livestock is a newly emerging economic sector with high potential in terms of economic returns. The budget document says, major focus in agriculture and livestock is on meeting the challenges of food security and increase the growth rate.