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Rs62 billion tax-free AJK budget announced
 
 
 
Rs62 billion tax-free AJK budget announced

MIRPUR  - Azad Jammu & Kashmir Government on Friday announced Rs 62 billion revenue-oriented tax-free budget for the new fiscal year 2014-15 AJK budget with recurring expenditures totaled to be around Rs 51.5 billion with total revenue deficit (to be met by Federal government) of Rs 7.5 billion.
AJ&K Finance Minister Chaudry Latif Akbar announced the budget of in the budget session of AJ&K Legislative Assembly which met in Muzaffarabad with Speaker Sardar Ghulam Sadiq Khan in  the chair.
“An amount of Rs10.5 billion has been allocated for development sector with Rs 51.50 recurrent budget for the coming fiscal,” he clued-up the House. The AJ&K lawmakers were informed that the government has geared up the budget within available resources. In his key note address to the AJ&K Legislators, he revealed that health and education were the major sectors which have been focused in the budget for the coming year.
Focusing the unemployed youth of the state, AJ&K government has allocated an amount Rs480 million for green cab scheme and distribution of laptops among the students. The state’s minister for finance expressed words of gratitude for Pakistani Prime Minister Mian Muhammad Nawaz Sharif for inclusion of AJ&K’s mega projects in federal budget for the first time in history which includes Tao Butt Mangla Kashmir Highway, Lower Toppa, Kohala Murree express way, Leepa Tunnel and broadcasting schemes for Neelum, a far flung districts well known in the world for its scenic beauty.
Stating the significant features of the budget 2014-15 the Finance Minister affirmed that from total revenue collection, an amount of Rs15,002 million will be generated from state resources whereas Rs 778 million as water uses charges of Mangla, Rs 12,500 million as 80pc of income tax from AJ&K Council and a share of Rs 15,750 million will be collected from federal tax share.
He disclosed to the House that recurring budget for the fiscal year 2014-15 has been estimated as Rs 51,500 million and the sectors from which government is likely to generate income is estimated are as follows: Rs5,060 million from Provincial Excise, Rs67.1 million from Land Record and Settlement, Rs 126.5 million from Stamps, Forest Rs253 million, Registration Rs44 million. Jails Rs0.345 million, Administration of Justice Rs57 million, Rs 0.110 from jails, home department Rs33 million, education Rs121 million, health Rs61.6 million, agriculture Rs3.3 million, animal husbandry Rs14.3 million, Industries, Labor & Minerals Rs27.5 million, Sericulture Rs3.5 million, miscellaneous Rs280.24 million, Communication and Works 143.00 million, Electricity Rs12,550 million, Printing Press Rs12 million, Armed Services board Rs17 million, Religious Affairs Rs27.5 million, Food Rs1,200 million, Tourism, Wild Life & Fisheries are estimated to contribute Rs 36 million.  The Minister for Finance told the House those Rs5,115.95 million are to be adjusted as overdraft payable to State Bank of Pakistan. Total revenue generation has been estimated as Rs51,500 million with Rs 7,450 million deficit which will be met by the federal government.
So far as the sectoral allocation is concerned, Akbar enlightened the house that Rs1,950.87 million have been allocated for General Administration, Rs616.256 million for Board of Revenue, Rs14.151 million for Stamps, Rs19.997 million for Land Record & Settlement, Rs714.198 million for Rehabilitation and Relief, Rs4,700.0 million for Pensions, Rs88.979 for Public Relations department, Rs920.945 million for administration of justice, Rs3,827.0 million for Police, Rs116.070 million for Jails, Rs82.860 million for Civil Defense, Rs49.280 million for Armed Services Board, Rs2,259.398 million for Communication and Works, Rs17,072.504 for Education, Rs4,257.135 for Public Health, Rs88.544 million for Sports, Youth & Culture, Rs119.746 million for Religious Affairs, Rs201.393 for Social Welfare & Women Development, Rs508.040 for Agriculture, Rs517.524 million for Animal Husbandry, Rs161.2410 million for Food, Rs3,000.0 for state trading, Rs677.800 million for Forest, Rs49.077 million for Co-operative, Rs5,656.946 million for Electricity, Rs368.663 for Local Government & Rural Development, Rs100.744 million for Industries & Minerals, Rs42.862 million for Printing Press, Rs65.808 million for Sericulture, Rs111.215 million Tourism, Wild Life & Fisheries and Rs3,140.750 million rupee as miscellaneous which makes the total as Rs51,500.00 million allocation for non-developmental sector for the fiscal year 2014-15.
Making known the development budget for the financial year 2014-15 Minister for Finance stated that Rs10,500 million has been estimated to be spent in development sector for coming fiscal. It includes Rs237.00 million for Agriculture & Live stock, Rs50.0 million for Civil Defense, Rs150.0 million for Development Authorities, Rs825.475 million for Education, Rs28 million for Environment, Rs107.00 million for foreign aided projects, Rs365.0 million for Forest, Fisheries & Wild Life, Rs320.831 million for health, Rs195.00 million for Industries and Minerals, Rs 48.0 million for transport Rs10.00 million for Information & Media Development, Rs125.0 million for Information Technology, Rs850.00 for Local Government, Rs1245.0 for Power, Rs705.0 million for Physical Planning and Housing, Rs110 for rehabilitation and resettlement, Rs130 million for Research & development, Rs41 million for Social Welfare, Rs155 million for Sports, Rs4,687.694 million for Transport & Communications and for Tourism Rs115.00 million (total amount of Rs10,500.000 million) for the fiscal year 2014-15.  The budget has been offered to the house for debate. The finance minister said the suggestions and proposals of the members of the house will be given due consideration to making it acceptable for all.

 
 
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