AJK announces Rs 44549.0 million revenue-oriented budget

Muzaffarabad: The AJ&K Government announced a 44549.0 million rupee revenue-oriented budget here on Monday for next fiscal, 2011-12, with revenue expenditures totaled to be around 37548.0 million and deficit of 5060.0 million rupee.

The budget was announced by AJ&K Finance Minister Abdul Rasheed Abbasi in AJ&K legislative Assembly.

“An amount of 8284.0 million rupee has been allocated for development sector with 31265.0 million recurrent budgets for the coming fiscal year,” he informed the House. The House was told that the development budget has been increased to 34 percent for next fiscal, compared to the financial year2010-11.

In his key note address to the AJ&K Lawmakers, he said that the government has presented a well balanced budget within available resource, in which 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 134645.0 million rupee will be generated from state resources whereas 720 million from Mangla Dam Royalty, 6900.0 million from Azad Jammu & Kashmir Council and a share of 9940.0 million rupees from federal government taxes will be collected.

He told the house that revised budget for the fiscal year 2010-11 has been estimated as 37548.011 million and the sectors from which government is likely to generate income are as; 3300 million from Provincial Excise, 10 million from Land Record and Settlement, 37 million from Stamps, Forest 350 million, Registration 25.600 million. Jails 0.37 million, Administration of Justice 30 million, home department 45 million, education 60 million, health 30 million, agriculture 3.5 million, animal husbandry 10 million, co-operative 0.030 million, Industries, Labor & Minerals 30 million, Sericulture 1.50 million, miscellaneous 1800.0 million, Communication and Works 255 million, Electricity6900 million, Printing Press 10 million, Armed Services board 12 million, Religious Affairs 15 million, Food 550 million, Tourism, Wild Life & Fisheries 25 million, Water Uses Charges 720 million, 6900 million income from Kashmir Council and 9940 million share from Federal taxes.

Total revenue generation has been estimated as 26157.150 million with 5060 deficit which will be met by the federal government.

Finance Minister told the house that 1396.709 million rupee have been allocated for Administration, 433.391 million rupee for Board of Revenue, 12.088 million rupee for Stamps, 14.441 million rupee for Land Record & Settlement, 685.775 million rupee for Rehabilitation and Reconstruction, 2300.00 million for Pensions, 75.097 for Public Relations department, 641.522 million for judiciary,2769.581 million for Police, 83.330 million for Jails, 39.984 million for Civil Defense, 30.821 million for Armed Services Board, 1473.203 million for Communication and Works, 11083.674 for Education, 2582.315 for Public Health, 44.420 million for Sports, Youth & Culture, 114.957 million for Religious Affairs, 82.133 for Social Welfare & Women Development, 336.287 for Agriculture, 346.194 million dor Animal Husbandry, 116.865 million for Food, 1993.650 for trade, 481.612 million for Forest, 37.413 million for Co-operative, 4968.002 million for Electricity, 258.595 for Local Government & Rural Development, 78.227 million for Industries & Minerals, 35.309 million for Printing Press, 42.555 million for Sericulture, 74.326 million Tourism, Wild Life & Fisheries and 3632.474 million rupee in miscellaneous which totals 36265 million allocation for non development sector.

Discussing the development sector minister for finance revealed that 118.00 million rupee for Agriculture & Live stock, 32 million for Civil Defense, 135 million for Development Authorities, 635 million for Education, 15 million for Environment, 299 million for foreign aided projects, 287 million for Forest, Fisheries & Wild Life, 16 million for Information & Media Development, 200 million for Information Technology, 143 million for Industries, 800 for Local Government, 1050 for Hydel Power, 613 million for Physical Planning and Housing, 75 million for Research & development, 25 million for Social Welfare, 140 million for Sports, 3310 million for Communications and for Tourism 125 million rupee ( total amount of 8200 million) have been allocated for the fiscal year 2011-12, showing 34 percent increase in previous year’s development budget.
Finance Minister further told that development budget amounting 8284 million will be provided by the federal government whereas Ministry of K&GB affairs will provide 2494 million additional amounts.

About the Author

Leave a Reply

Your email address will not be published.