VCheng
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Budget 2014/15
- Thread starter Hyde
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Hyde
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Health/Education is now responsibility of Provincial government. While the Federal Government is allocating only 26 billion rupees for Health, it will increase manyfold when you will combine the health budget of provincial governments.
Couple of weeks ago they released share figures. Army 48%, PAF 20%, Navy 10%. Rest for nuclear, isi etc...
Wait for provincials budgets to get actual figure.
Highlites:
For welfare of the labour class, and in line with the increase in pay of government employees, the minimum wage rate is also being increased from Rs10,000 to Rs11,000.
7:09pm
Against a revised estimate of Rs425 billion for PSDP, we have budgeted it at Rs525 billion showing an increase of nearly 24%.
7:07pm
The finance minister says that the share of provincial governments out of taxes will be Rs1,720 billion as compared to Rs1,413 billion revised estimates for 2013-14, showing an increase of about 22%. Net resources left with the federal government will be Rs2,225 billion compared to the revised estimates of Rs2,184 billion for last year.
The level of provincial transfers over the last year has been increased from Rs1,215 billion to Rs1,720 billion, which is an increase of 42%.
7:03pm
Dar announces that a company titled Pakistan Development Fund Limited has been established for which resources of Rs157 billion have been arranged. The Company will provide financing to key infrastructure projects and promote Public-Private Partnerships (PPPs) for this purpose. (guys this is Saudi "gift", lol)
Gross revenue receipts of the federal government for 2014-15 are estimated at Rs3,945 billion compared to the revised figures of Rs3,597 billion for 2013-14, showing an increase of 10%.
1. Higher education has been allocated Rs20 billion for as many as 88 projects. This is the highest ever allocation to the higher education, boasts Dar. Additional funds will also be given, taking the total budget to Rs63 billion.
To ease the traffic flow in cities, funds have been allocated for work on several projects including the Peshawar Northern by-pass, Karachi Nothern by-pass, Lyari Expressway and Sukkur by-pass, says Dar.
Dar talks about the Diamer-Basha dam and reveals that Rs15 billion have been allocated for the construction of the dam and work on the project will start soon.
For welfare of the labour class, and in line with the increase in pay of government employees, the minimum wage rate is also being increased from Rs10,000 to Rs11,000.
7:09pm
Against a revised estimate of Rs425 billion for PSDP, we have budgeted it at Rs525 billion showing an increase of nearly 24%.
7:07pm
The finance minister says that the share of provincial governments out of taxes will be Rs1,720 billion as compared to Rs1,413 billion revised estimates for 2013-14, showing an increase of about 22%. Net resources left with the federal government will be Rs2,225 billion compared to the revised estimates of Rs2,184 billion for last year.
The level of provincial transfers over the last year has been increased from Rs1,215 billion to Rs1,720 billion, which is an increase of 42%.
7:03pm
Dar announces that a company titled Pakistan Development Fund Limited has been established for which resources of Rs157 billion have been arranged. The Company will provide financing to key infrastructure projects and promote Public-Private Partnerships (PPPs) for this purpose. (guys this is Saudi "gift", lol)
Gross revenue receipts of the federal government for 2014-15 are estimated at Rs3,945 billion compared to the revised figures of Rs3,597 billion for 2013-14, showing an increase of 10%.
1. Higher education has been allocated Rs20 billion for as many as 88 projects. This is the highest ever allocation to the higher education, boasts Dar. Additional funds will also be given, taking the total budget to Rs63 billion.
To ease the traffic flow in cities, funds have been allocated for work on several projects including the Peshawar Northern by-pass, Karachi Nothern by-pass, Lyari Expressway and Sukkur by-pass, says Dar.
Dar talks about the Diamer-Basha dam and reveals that Rs15 billion have been allocated for the construction of the dam and work on the project will start soon.
rockstar08
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Couple of weeks ago they released share figures. Army 48%, PAF 20%, Navy 10%. Rest for nuclear, isi etc...
only 10% for Navynot fair
Wait for provincials budgets to get actual figure.
farhan_9909
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Expected Education budget(Federal+provinces) is said to be about 2.4% of GDP as compared to 1.9% last year.
A guy on either geo or ary said it this evening.While Govt claim that they will increase it to 4% by 2018.
With only .5% Increase i doubt it will reach 4% mark before 2020
A guy on either geo or ary said it this evening.While Govt claim that they will increase it to 4% by 2018.
With only .5% Increase i doubt it will reach 4% mark before 2020
More details
Rs 3.945 trillion budget presented
Minimum wage raises to Rs 11,000; pension up by 10%
ISLAMABAD – The government of Prime Minister Nawaz Sharif on Tuesday presented its second budget with a total outlay of Rs 3.945 trillion for the fiscal year 2014-15.
Finance and Economic Affairs Minister Senator Ishaq Dar read out the budget proposals at the special session of the National Assembly attended by the prime minister and presided over by Speaker Ayaz Sadiq. The minister proposed to raise the salaries of government employees by 10 per cent and the minimum monthly wage to Rs 11,000 from Rs 10,000. The minimum pension is being raised from Rs 5000 to Rs 6000.
Under Benazir Income Support Programme (BISP), the poor will now receive Rs 1500 per month, Rs 300 more compared to previous fiscal. Now 5.3 million families will be supported instead of 4.1 million. The development budget is proposed to be fixed at Rs 525 billion. The number of customs slabs is being reduced from eight to six. The maximum customs duty is being reduced from 30 to 25 per cent.
For Diamer Bhasha Dam, Rs10 billion had been allocated for the acquisition of land while Rs15 billion are being earmarked for the next fiscal. Funds for other dams in different provinces are also being allocated. The government is allocating Rs205 billion for investment in various power projects to overcome the energy crises on priority basis. Privatization of the state owned organizations will be undertaken and the proceeds will be spent for the development of the people.
Sindh will get Rs 464billion under National Finance Commission (NFC) Award, Khyber Pakhtunkhwa Rs283 billion and Balochistan Rs160 billion. In the next five years, 500 new locomotives will be purchased while arrangements are being made to obtain 1500 new rail cars to facilitate the passengers. Rs 77 billion are being allocated for 45 several schemes for Railways and salaries and pension of its employees.
For higher education Rs 63 billion have been allocated which is 10 per cent higher than the previous year. Through the auction of 3G and 4G technologies as many as 900,000 people will get employment opportunities. Work on Karachi-Hyderabad motorway project will soon be started. The foreign exchange reserves of the country will soon be raised to 22 billion dollars.
Revenue collection is estimated at Rs3.943 trillion for FY 2014-15, 10 percent up compared to FY 2013-14. Expenditures Rs3.937 trillion, 2 percent up compared to previous fiscal. Current expenditures are estimated at Rs3.130 trillion. Public Sector Development Programme (PSDP)for 2014-15 is Rs525 billion. Fiscal Deficit will be kept to 4.9 percent in 2014-15.
The rate of inflation was brought down to 6.8 percent. Exports were raised to 21 bn dollars, registering a gain of 4.24 percent while the remittances rose to 129 million dollars. Rupee value against the dollar witnessed an unprecedented recovery and remains stable around Rs98-99, showing a rise of 11percent. Foreign exchange reserves have been increased to 13.5 bn dollar which are will be brought up to 15 billion dollars, hopefully, by this July. The launch of Euro bond received an encouraging response.
Rs 3.945 trillion budget presented
If total NFC award figure is correct then here is break down.
Total amount Rs1,720 billion:
Punjab: 813bn (47.26%)
Sindh: 464bn (26.97%)
KPK: 283bn (16.45%)
Baloch: 160bn (9.30%)
When will provinces present budgets?
Rs 3.945 trillion budget presented
Minimum wage raises to Rs 11,000; pension up by 10%
ISLAMABAD – The government of Prime Minister Nawaz Sharif on Tuesday presented its second budget with a total outlay of Rs 3.945 trillion for the fiscal year 2014-15.
Finance and Economic Affairs Minister Senator Ishaq Dar read out the budget proposals at the special session of the National Assembly attended by the prime minister and presided over by Speaker Ayaz Sadiq. The minister proposed to raise the salaries of government employees by 10 per cent and the minimum monthly wage to Rs 11,000 from Rs 10,000. The minimum pension is being raised from Rs 5000 to Rs 6000.
Under Benazir Income Support Programme (BISP), the poor will now receive Rs 1500 per month, Rs 300 more compared to previous fiscal. Now 5.3 million families will be supported instead of 4.1 million. The development budget is proposed to be fixed at Rs 525 billion. The number of customs slabs is being reduced from eight to six. The maximum customs duty is being reduced from 30 to 25 per cent.
For Diamer Bhasha Dam, Rs10 billion had been allocated for the acquisition of land while Rs15 billion are being earmarked for the next fiscal. Funds for other dams in different provinces are also being allocated. The government is allocating Rs205 billion for investment in various power projects to overcome the energy crises on priority basis. Privatization of the state owned organizations will be undertaken and the proceeds will be spent for the development of the people.
Sindh will get Rs 464billion under National Finance Commission (NFC) Award, Khyber Pakhtunkhwa Rs283 billion and Balochistan Rs160 billion. In the next five years, 500 new locomotives will be purchased while arrangements are being made to obtain 1500 new rail cars to facilitate the passengers. Rs 77 billion are being allocated for 45 several schemes for Railways and salaries and pension of its employees.
For higher education Rs 63 billion have been allocated which is 10 per cent higher than the previous year. Through the auction of 3G and 4G technologies as many as 900,000 people will get employment opportunities. Work on Karachi-Hyderabad motorway project will soon be started. The foreign exchange reserves of the country will soon be raised to 22 billion dollars.
Revenue collection is estimated at Rs3.943 trillion for FY 2014-15, 10 percent up compared to FY 2013-14. Expenditures Rs3.937 trillion, 2 percent up compared to previous fiscal. Current expenditures are estimated at Rs3.130 trillion. Public Sector Development Programme (PSDP)for 2014-15 is Rs525 billion. Fiscal Deficit will be kept to 4.9 percent in 2014-15.
The rate of inflation was brought down to 6.8 percent. Exports were raised to 21 bn dollars, registering a gain of 4.24 percent while the remittances rose to 129 million dollars. Rupee value against the dollar witnessed an unprecedented recovery and remains stable around Rs98-99, showing a rise of 11percent. Foreign exchange reserves have been increased to 13.5 bn dollar which are will be brought up to 15 billion dollars, hopefully, by this July. The launch of Euro bond received an encouraging response.
Rs 3.945 trillion budget presented
If total NFC award figure is correct then here is break down.
Total amount Rs1,720 billion:
Punjab: 813bn (47.26%)
Sindh: 464bn (26.97%)
KPK: 283bn (16.45%)
Baloch: 160bn (9.30%)
When will provinces present budgets?
Last edited:
Hyde
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It's going to be one by one. Every budget should have been presented before July
farhan_9909
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wasnt the punjab Budget suppose to be 1trillion and KPK in excess of 300billion?
HRK
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Health is a provincial sub ....these 26 billion is only for Federal Government Hospitals ......
This is just NFC award from Federal. Remember provinces also collect their own taxes. And KPK for exemple get 15-20? billion every year from gas and oil among others revenues.
Does anyone know of tax collection by provinces?
Hyde
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Salient features of budget 2014/15 on official site
http://finance.gov.pk/budget/Budget_in_Brief_2014_15.pdf
So the total outlay of budget is 4302 billion rupees, 7.9% higher than last year
http://finance.gov.pk/budget/Budget_in_Brief_2014_15.pdf
http://finance.gov.pk/budget/Budget_in_Brief_2014_15.pdf
So the total outlay of budget is 4302 billion rupees, 7.9% higher than last year
http://finance.gov.pk/budget/Budget_in_Brief_2014_15.pdf
farhan_9909
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Does it mean that KPK will get 280Billion Rs through NFC award+330Billion Rs dedicated provincial budget?
if so than Rs 610Billion is indeed a huge amount for KPK
It means 283bn from NFC and rest from internal resources like provincial tax collection, royalities from gas and oil which is 15-20bn i think for KPK. Total budget include NFC.
$43 billion, if things go right this year then next should be $50 billion!
farhan_9909
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Indian budget for last year was 280Billion dollars or 6.5times more than our present Budget.
