Rs. 3.7 trillion budget is presented in parliament
Pakistan is follow any economic pattern properly to walk side by side to Asian progressing nations like japan ,Korea etc .unfortunately incapable and commission based leadership of Pakistan is not working on it.There is energy crises at worst level in the history of Pakistan.Pakistan is to take following few measures to decrease deficit of Budget. all profit earning public departments are in deficit. Pakistan so called Government is to take following few measuresExplore new energy sources
make dames rather than making commissions
explore mining Like Rico Dic
Explore costly stones
. Activate embassies
Remove Commission based bureaucracy
Remove Irshad Haqani from USA which is real threat to Pakistani sovereignty
Renew US-Pak relations
Decrease bodyguards Troops culture
Retire all old Bureaucrats whose service is more that 25 years
Create employment opportunities
Remove Corrupt Office holders.whether sitting is public services or Ministries or parliament
All parliament members declare their assets
Corrupt so called leadership is to stop joking to Pakistani nation and declare black money
and pay proper income tax.
Pay attention to the latest statement of Irani President Ahmedi Naiad
The budget for the upcoming financial year has been approved by federal cabinet, and it will shortly be presented to the parliament.
According to the estimates for the Budget 2011-12 obtained by Dawn News, the budget for the coming year is going to be 14.2 per cent greater than last year.
The total budget amounts to Rs. 3.7 trillion, out of which 933 billion is expected to go to provinces while 2.7 trillion would be for federal allocation.
The budget deficit has been estimated at four per cent of the GDP, or Rs. 850 billion.
For the coming year 2011-12, Rs. 495 billion is likely to be allotted for defense whereas Rs. 790 billion is expected to be set aside for debt repayment.
Out of the total budget, Rs. 730 billion was being set aside for development, with Rs. 300 billion for federal development and Rs. 430 billion for provincial development projects.
Federal revenue is estimated to be Rs. 1.952 trillion, while non-tax income estimates are put at Rs. 657 billion.
Recommendations have been given for a 15 per cent increase in government salaries, as well as for the implementation of 17 per cent sales tax on Army CSD shops and local garments manufacturing.
There are also recommendations for the elimination of tax exemptions and introduction of new taxes worth Rs. 90 billion.
The 2011-12 budget is expected to allocate a grant of Rs. 23 billion to Gilgit-Baltistan. While Pakistan Railways is likely to be granted Rs. 25 billion.
Estimates for income from petroleum products stand at Rs. 115 billion while there has also been a recommendation of eight per cent excise duty to be applied on sugar.