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Federal Finance Minister Abdul Hafeez Sheikh presented the 2011-12 budget in the National Assembly.
The expenditure in the new budget has been increased by 14.2 percent. The amount allocated for subsidies stands at Rs 166.4 billion. The provinces will get Rs 1203.3 billion.
The Punjab will get Rs 576.9 billion, Sindh Rs 324.4, Khyber Pakhtunkhwa Rs 191.8 billion and Balochistan Rs 110.2 from the federal taxes.
Defence will get Rs 495.2 billion with an annual increase of Rs 55 billion. The federal government has allocated Rs 14 billion for the higher education. The amount proposed for debt servicing is $ 790.9 billion. The Interior Ministry will get Rs 5.80 billion, Defence Ministry Rs 3.85 billion, Ministry of Defence and Production 1.50 billion, Wapda Rs 32.50 billion and Atomic Energy Commission Rs 22.20 billion.
Rs 40 billion has been allocated for health and education.
Provincial Development Programme has been allocated Rs 430 billion, National Development Programme Rs 290 billion, Water and Power Rs 36.60 billion, Small dams in Balochistan Rs 50 billion and Diamir Bhasha dam Rs 18 billion. For the extension of Mangla Dam Rs 6 billion has been proposed.
Neelam-Jhelum Hydro Power Project will get Rs 11 billion. Era will get Rs 10 billion, Railways Rs 15 billion and NHA Rs 40 billion. No money has been allocated to the ministries transferred to the provinces. In the new financial year the government will allocate Rs 2.1 billion for the industry and production.
The public sector employees will get an increase of 15 percent in their salaries and Rs 96.10 have been earmarked for pension fund. Government has also proposed to borrow Rs 304 billion from the commercial banks.
The ratio of GST has been reduced from 17 to 16 percent. Medicine and edibles will be exempted from GST.
The expenditure in the new budget has been increased by 14.2 percent. The amount allocated for subsidies stands at Rs 166.4 billion. The provinces will get Rs 1203.3 billion.
The Punjab will get Rs 576.9 billion, Sindh Rs 324.4, Khyber Pakhtunkhwa Rs 191.8 billion and Balochistan Rs 110.2 from the federal taxes.
Defence will get Rs 495.2 billion with an annual increase of Rs 55 billion. The federal government has allocated Rs 14 billion for the higher education. The amount proposed for debt servicing is $ 790.9 billion. The Interior Ministry will get Rs 5.80 billion, Defence Ministry Rs 3.85 billion, Ministry of Defence and Production 1.50 billion, Wapda Rs 32.50 billion and Atomic Energy Commission Rs 22.20 billion.
Rs 40 billion has been allocated for health and education.
Provincial Development Programme has been allocated Rs 430 billion, National Development Programme Rs 290 billion, Water and Power Rs 36.60 billion, Small dams in Balochistan Rs 50 billion and Diamir Bhasha dam Rs 18 billion. For the extension of Mangla Dam Rs 6 billion has been proposed.
Neelam-Jhelum Hydro Power Project will get Rs 11 billion. Era will get Rs 10 billion, Railways Rs 15 billion and NHA Rs 40 billion. No money has been allocated to the ministries transferred to the provinces. In the new financial year the government will allocate Rs 2.1 billion for the industry and production.
The public sector employees will get an increase of 15 percent in their salaries and Rs 96.10 have been earmarked for pension fund. Government has also proposed to borrow Rs 304 billion from the commercial banks.
The ratio of GST has been reduced from 17 to 16 percent. Medicine and edibles will be exempted from GST.
