The Azad Jammu and Kashmir government on Wednesday announced a Rs 49.59 billion revenue-oriented tax-free budget for the next fiscal (2012-13), with expenditures totalling around Rs 40,050 million and a deficit of Rs 5,100 million. The budget was announced by Azad Kashmir's Finance Minister Chaudry Pervaiz Ashraf in the Legislative Assembly which met in Muzaffarabad.
"An amount of Rs 9547.036 million has been allocated for the development sector with Rs 40,050 million recurrent budget for the next fiscal year," he informed the House. The development budget had been increased 15 percent against the previous financial year 2011-12. Highlighting his party's achievements, the finance minister said that the PPP government had presented a well-balanced and public-friendly budget for the first year of its five-year term, focussing on almost all sectoRs
Elaborating on the salient features of the budget, the Finance Minister stated that from total revenue collection, Rs 15,310 million would be generated from state resources while Rs 840 million from Mangla Dam's royalty, Rs 7,400 million from tax collection from the AJK Council and a share of Rs 11,400 million would be collected from federal government taxes.
He said that the revised budget for fiscal year 2012-13 was estimated at Rs 40,050 million and sectors from which government was likely to generate income are: Rs 4,080 million from provincial excise, Rs 70 million from land record and settlement, Rs 120 million from stamps, Rs 350 million from forest, Rs 40 million from registration.
As much as Rs 400,000 was likely to be generated from jails, Rs 25 million from administration of justice, home department Rs 18 million, education Rs 58 million, health Rs 13 million, agriculture Rs 3.5 million, animal husbandry Rs 13 million, co-operatives Rs 0.03 million, industries, labour and minerals 25 million, sericulture Rs 1.5 million, miscellaneous Rs 774.57 million, communication and Works Rs 135 million, electricity Rs 8,933 million, printing press Rs 10 million, Armed Services Board Rs 17 million, religious affairs Rs 26 million, food Rs 570 million, tourism, wild life and fisheries Rs 27 million. Total revenue generation was estimated at Rs 40,050 million with Rs 5,100 deficit that would be met by the federal government.
According to the Finance Minister, Rs 1582.74 million have been allocated for general administration, Rs 515.29 million for Board of Revenue, Rs 12.72 million for stamps, Rs 14.9 million for land record and settlement, Rs 687.7 million for rehabilitation and reconstruction, Rs 3,500 million for pensions, Rs 70.461 for public relations department, Rs 688.49 million for judiciary, Rs 3,004 million for police, Rs 92.154 million for jails, Rs 63.3 million for civil defence, Rs 38.62 million for Armed Services Board, Rs 1,788 million for communication and works, Rs 13073.119 million for education, Rs 3248.1 million for public health, Rs 42.58 million for sports, youth and culture, Rs 98.879 million for religious affairs, Rs 134.857 for social welfare and women development, Rs 401.32 million for agriculture, Rs 402.93 million for animal husbandry, Rs 133.82 million for food, Rs 2,000 million for trade, Rs 546.95 million for forest, Rs 41.465 million for co-operatives, Rs 5335.48 million for electricity, Rs 292.475 million for local government and rural development, Rs 80.89 million for industries and minerals, Rs 38.44 million for printing press, Rs 50.335 million for sericulture, Rs 88 million for tourism, wild life and fisheries and Rs 1,981.994 million in miscellaneous which totals an allocation of Rs 40,050 million for non-development sector.
The finance minister said that in the development sector, an allocation of Rs 215 million for agriculture and livestock, Rs 33 million for civil defence, Rs 135 million for development authorities, Rs 887.017 million for education, Rs 15 million for environment, Rs 148.337 million for foreign-aid projects, Rs 317 million for forests, fisheries and wild life.
As much as Rs 587.08 million were set aside for health, Rs 15 million for information and media development, Rs 115 million for information technology, Rs 186 million for Industries, Rs 770 for local government, Rs 1,130 for hydel power, Rs 722 million for physical planning and housing, Rs 80.583 million for research and development, Rs 28.019 million for social welfare, Rs 140 million for sports, Rs 3,917 million for communications and Rs 106 million were allocated for tourism.
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