Government has presented deficit federal budget for the fiscal year 2010-11 in the national assembly with total outlay of Rs 2.764 trillion which is higher by 12.3 percent as compared to current fiscal year.
According to budget document the current resources are estimated at Rs 2.598 trillion for the next financial year while the estimate under this head was worked out at Rs 2.299 trillion for the current financial year.
Final revenue collection has been estimated at Rs 1.3.77 trillion for the next fiscal year, which is higher by 1.9 percent, compared to 2009-10.
The provinces will get their share of Rs 1.034 trillion out of overall tax collection by the federation which are higher by 57.9 percent than the estimated collection of ongoing fiscal year.
The capital collection estimate has been worked out as RS 325 billion for the next fiscal year which is 26 percent higher as against the outgoing fiscal year.
The overall expenditure for the upcoming financial year has been estimated at Rs 2.764 trillion. Rs .1998 trillion have been earmarked for current expenses and Rs .787 trillion will be allocated for development expenses out of it. The development expenditure is 25.3 percent higher against the revised estimate of the outgoing fiscal year. General government services including transfer of payment and old age benefits are estimated at Rs 1.388 trillion which are 89.5 percent of current expenses.
The development program volume in respect of public sector for the next fiscal year stands at 6.63 billion while a sum of Rs .124 trillion have been earmarked for other expenses. They are 30 percent higher compared to revised PSDP. Rs 373 trillions have been allocated for the provinces for completion of their development program. Rs 10 billion have been allocated for rehabilitation of quake affectees and reconstruction authority.
The government has increased current expenses by Rs .2 trillion for the next fiscal year as against the outgoing fiscal year . As per budget documents Rs 1.7 trillion were allocated for the current fiscal year which had been increased to Rs 1.9 trillion up by Rs .2 trillion.
Rs 1.387 trillion have been earmarked for general government services, Rs .442 trillion for defence affairs and services, Rs 7.28 billion for health matters and services, Rs 4.35 billion for culture and religion, Rs 66.89 billion for economic affairs Rs 448 million for environment protection, Rs 1.84 billion for domestic and social goods. Rs 34.50 billion for educational matters and services and Rs 1.46 billion for social welfare sector.
RS 442 billion have been allocated for defence budget which is higher by Rs 100 billion and Rs 64 billion against the current year and revised budget respectively.
Revenue collection from the domestic resources has been estimated at Rs 2.410 trillion for the next financial year which is 20.1 percent higher than the current year estimate. Over R s 1.778 trillion will be collected under tax revenue and Rs over .632 trillion under non tax revenue.
Rs 657 billion will be collected under direct taxes and Rs 1.121 trillion under non tax head in the next financial year.