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Federal Budget 2009-10 presented in NA

Saturday, June 13, 2009 Leave a Comment

ISLAMABAD: Pakistan government on Saturday unveiled the Federal Budget for the fiscal year 2009-10 with a record deficit of over Rs 722 billion, near 5% of the gross domestic product, reports ARY NEWS.

Pakistan's federal budget for the year that begins July 1 is presently being presented in National Assembly by Junior Minister for Finance and Economic Affairs Hina Rabbani Khar.

The total budget outlay has been estimated at Rs 2897.4 billion in contrast with the estimated revenue collection of Rs 2174.9 billion.

Key features of the Federal Budget are as follows:

* Tax Collection Target has been set at Rs 1377.5 billion
* Current Expenditures are estimated at 1699.19 billion
* Allocation for People’s Works Program: Rs 28 billion
* Allocation for Workers’ Welfare Fund: Rs 10.8 billion
* Rs 50 billion have been allocated for the relief and rehabilitation of Internally Displaced Persons (IDPs) of the operation-affected areas of NWFP.
* An increase of allowance equivalent to one basic pay, effective from July 1, 2009, has been approved for the military’s personnel deputed in the western part of the country. All the members of the armed forces will get the same from January 1, 2010.
* Rs 70 billion have been allocated for Benazir Income Support Program
Development Budget of the Federation: Rs 421 billion
Development Budget for the Provinces: Rs 200 billion

Major Development Expenditures:

* Rs 262 billion are for federal ministries
* Rs 38 billion are for Azad Jammu and Kashmir, FATA and Northern Areas
* Rs 60 billion are for Corporations
* Rs 60 billion are for Water Sector Development
* Rs 47 billion are for Dams Construction/Raising
* Rs 18 billion for Agriculture
* Rs 23.15 billion have been allocated for Health sector
* Rs 32 billion have been allocated for Education with Rs 22.5 billion for Higher Education
* Development Budget allocated for the Provinces: Rs 200 billion
* National Highway Authority will receive Rs 40.2 billion
* Rs 12.7 billion are for Railways
* Rs 70 billion are allocated for Transport and Communication
* Rs 85 billion have been allocated to overcome energy crisis and would be spent on Electricity, Gas and Water Supply projects.
* Rs 2.96 billion have been allocated for environment protection
* Rs 3.6 billion are for National Internship Program
* Rs 450 million for cultural development
* Rs 583 million for Sports