MIRPUR: The Azad Jammu Kashmir government Wednesday announced a total of Rs. 49.59 billion revenue-oriented tax free budget for next fiscal 2012-13, with revenue expenditures totaled to be around Rs. 40,050.00 million and deficit of Rs. 5100.0 million.
The budget was announced by AJK Finance minister Chaudry Pervaiz Ashraf in AJK Legislative Assembly which met in Muzaffarabad.
“An amount of Rs. 9547.036 million has been allocated for development sector with Rs. 40,050.00 million recurrent budget for the next fiscal year,” he informed the House. The AJK assembly was told that the development budget has been increased to 15 percent, compared to the financial year 2011-12.
In his key note address to the lawmakers, the Finance minister said that the PPP government has presented a well balanced and public friendly budget for the first year of its five years term, and almost all the sectors have been focused.
Elaborating the salient features of the budget Finance Minister stated that from total revenue collection, an amount of Rs. 15,310.00 million will be generated from state resources whereas Rs. 840 million from Mangla Dam Royalty, Rs. 7400.0 million from the tax collection from AJK Council and a share of
Rs. 11,400.0 million from federal government taxes will be collected.
He revealed that revised budget for the fiscal year 2012-13 has been estimated at Rs. 40,050.0 million and the sectors from which government is likely to generate income are as; Rs. 4,080.0 million from Provincial Excise, Rs. 70.0 million from Land Record and Settlement, 120.0 million from Stamps, Rs. 350 million from Forest,Rs. 40.0 million from Registration. 0.400 million from Jails, Rs. 25.0 million from Administration of Justice, Home department Rs. 18.0 million, Education Rs. 58 million, Health Rs. 13.0 million, Agriculture Rs. 3.5 million, Animal husbandry Rs. 13.0 million, co-operative Rs. 0.030 million, Industries, Labor & Minerals 25.0 million, Sericulture 1.50 million, miscellaneous 774.570 million, Communication and Works 135.0 million.
Electricity 8933.0 million, Printing Press 10 million, Armed Services board 17 million, Religious Affairs 26 million, Food 570.0 million, Tourism, Wild Life & Fisheries 27 million. Total revenue generation has been estimated at 40050.0 million with Rs. 5100.0 deficit which will be met by the federal government.
Finance Minister told the house that Rs. 1582.740 million have been allocated for General Administration, Rs. 515.290 million for Board of Revenue,Rs. 12.720 million for Stamps, Rs. 14.900 million for Land Record & Settlement, Rs. 687.700 million for Rehabilitation and Reconstruction, Rs. 3500.00 million for Pensions, Rs. 70.461 for Public Relations department, Rs. 688.490 million for judiciary, Rs. 3004.00 million for Police, Rs. 92.154 million for Jails,Rs. 63.300 million for Civil Defense, Rs. 38.620
million for Armed Services Board, Rs. 1788.00 million for
Communication and Works, Rs. 13073.119 million for Education, Rs. 3248.100 million for Public Health, Rs. 42.580 million for Sports, Youth & Culture, Rs. 98.879 million for Religious Affairs, Rs. 134.857 for Social Welfare & Women Development, Rs. 401.320 million for Agriculture, Rs. 402.930 million for Animal Husbandry, Rs. 133.820 million for Food,Rs. 2000.0 million for trade,Rs. 546.950 million for Forest, Rs. 41.465 million for Co-operative, Rs. 5335.480 million for Electricity,Rs. 292.475 million for Local Government & Rural Development, Rs. 80.890 million for Industries & Minerals,Rs. 38.440 million for Printing Press,Rs. 50.335 million for Sericulture, Rs. 88.00 million for Tourism, Wild Life & Fisheries and Rs. 1981.994 million in miscellaneous which totals 40,050.0 million allocation for non- development sector.
While mentioning the development sector, minister for Finance revealed that Rs. 215.0 million for Agriculture & Live stock, Rs. 33.0 million for Civil Defense, Rs. 135.0 million for Development Authorities, Rs. 887.017 million for Education, Rs. 15 million for Environment, Rs. 148.337 million for foreign aided projects, Rs. 317.0 million for Forests, Fisheries & Wild Life, Rs. 587.080 million for health Rs. 15 million for Information & Media Development, Rs. 115.0 million for Information Technology, Rs. 186.0 million for Industries, Rs. 770.0 for Local Government, Rs. 1130.0 for Hydel Power, Rs. 722.0 million for Physical Planning and Housing, Rs. 80.583 million for Research & development, Rs. 28.019 million for Social Welfare, Rs. 140 million for Sports, Rs. 3917.0 million for Communications and Rs. 106 million for Tourism have been allocated for the fiscal year 2012-13. APP