ISLAMABAD: Federal Budget 2009-10 envisaging a total outlay of Rs2.482 billion has been presented. State Minister for Finance and Economic Affairs Hina Rabbani Khar presented the Federal Budget 2009-10 in which 15 percent raise has been announced in the salaries and pension of in-service and retired government employees.
The target of GDP for the next fiscal year has been fixed at 3.3 percent while measures will be adopted for bringing the inflation rate below 10 percent. The State Minister said the total allocation for Public Sector Development Program (PSDP) has been made at Rs646 billion; Rs 343 billion for Defence Rs31.60 billion for education sector and; Rs6.5 billion for health.
The allocation for Benazir Income Support Program has been raised to Rs70 billion which will be distributed among 5 million deserving people. Rs50 billion have been earmarked for the relief and rehabilitation of affectees of Malakand Division.
In order to impart training to the youth under National Internship Program Rs3.60 billion have been allocated. Under the program 30,000 youth will be provided professional training in their respective fields. The target for tax revenue collection has been raised by 15.7 percent to 1.3775 trillion while the rest of the expenditure will be met through foreign loans and grants.
Rs178 billion are expected to be received through Friends of Pakistan Consortium. The fiscal deficit is expected at 4.9 percent for the next fiscal year. Increase in the allowance has been announced for the armed forces deployed on the western front. This allowance will be equal to one month’s initial basic pay with effect from 1st July 2009, as announced by the President of Pakistan.
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