The Azad Jammu & Kashmir government Wednesday presented tax-free budget for fiscal year 2012-13, with a total volume of Rs49.50 billion in the legislative assembly of AJK. The government recommended 20%increase in the budget in terms of salaries and pension of the government’s employees. Speaker legislative assembly AJK, Sardar Ghulam Sadiq chaired the session of the assembly while Minister for Finance, Ch. Pervez Ashraf, presented the budget. The finance Minister told the assembly that estimated revenue for the year 2012-13 included Rs 15.31 billion from the state resources, Rs 8.4 million revenue would be generated in term of water charges from Mangla Dam, Rs 7.40 Billion from AJK counsel and Rs 11.40 billion as a share from the federal taxes while the Deficits would be expected around Rs 5.10 billion. Meanwhile, Rs 49 .50 billion budgets Rs 9.50 billion has been earmarked as development expenditures and Rs 40.5 billion as no developmental expenditures. Ch. Pervez Ashraf said that the current budget has been raised by over 15 % compared to fiscal year 2010-2011 budget as the volume of budget for 2011-12 was Rs44.54billion. He said that the government allocated additional Rs 2.45 billion for on going developmental schemes in the AJK, which increased the total volume of developmental schemes upto Rs 11 billion. The government has reserved Rs 10 billion for the rehabilitation of earthquake affectees, he added.