LAHORE, June 9: Punjab Chief Minister Pervaiz Elahi has said the federal budget is a welfare-oriented budget in the real sense in which effective steps have been taken for development of various sectors of the economy as well as uplift of poor and downtrodden people, says a handout.

He said subsidy on fertilisers and 20 per cent reduction in power tariff on tubewells would result in improvement of socio-economic condition of farmers.

Pervaiz said Rs17.5 billion allocated for Baitul Maal would be utilized for welfare of the poor which would result in poverty alleviation.