Magazine article Economic Review

Rs.74.247 Billion Tax-Free Balochistan Budget 2009-10

Magazine article Economic Review

Rs.74.247 Billion Tax-Free Balochistan Budget 2009-10

Article excerpt

The PPP-led Balochistan coalition government presented Rs.74.247 billion tax-free budget with an overall deficit of Rs.8.332 billion for the fiscal year 2009-10.

Development Programme

The budget envisages development programme of Rs.18.536 billion including Rs.5.107 billion of foreign project assistance-FPA and with current budget of Rs.53.081 billion, provincial finance minister Asim Kurd Gailu said in his speech while presenting the second annual budget of the coalition government in Balochistan assembly.

Net Receipts

"Keeping in view burden of common man, our next budget is tax-free," the finance minister said, adding that total estimated receipts are Rs.59.054 billion out of which Rs.3.645 billion as the province's own income including Rs.1.132 billion as tax while Rs.2.512 billion non-tax receipts, and Rs.55.408 billion as federal transfers including Rs.12.227 billion direct transfers, Rs.13.975 billion subvention/grants and Rs.29.204 as share in tax. In comparison with the outgoing budget, the total estimated receipts of Rs.59.054 billion of the budget 2009-10 are lesser than the outgoing fiscal budget of Rs.62.38 billion.

Budget Deficit

The deficit in the budget is amounting to Rs.8.832 billion as the deficit budget in outgoing financial year was as Rs.8.80 billion. The finance minister said that the deficit amounting to Rs.8.832 billion would be met from promised grants of Rs.3 billion by the federal government set for budgetary support, Rs.3 billion set for public representative programme-PRP and remaining deficit of Rs . …

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