MIRPUR (AJK): The Azad Jammu and Kashmir (AJK) Government Monday announced Rs. 44.549 billion revenue-oriented budget of the state for next fiscal year (2011-12), with revenue expenditures of around 37.548 billion and deficit of Rs. 5.060 billion. The budget was announced by the AJK Finance Minister Abdul Rasheed Abbasi in the AJ&K legislative Assembly which met in Muzaffarabad on Monday.
“An amount of Rs. 8.284 billion has been allocated for the development sector with Rs. 31.265 billion recurrent budgets for the coming fiscal year,” he informed the House.
The House was told that the development budget had been increased to 34 per cent for next fiscal, compared to the financial year 2010-11.
In his key note address to the AJ&K Lawmakers, he said the government had presented a well balanced budget within available resource in which almost all the sectors had been focused.
Elaborating the salient features of the budget, the Finance Minister stated that from total revenue collection, an amount of Rs. 134.645 billion would be generated from state resources whereas Rs. 720 million from Mangla Dam Royalty, Rs. 6.900 billion from Azad Jammu & Kashmir Council while a share of Rs. 9.940 billion would be collected from federal government taxes.
He told the house that revised budget for the fiscal year 2010-11 had been estimated as Rs. 37.548 billion, while the sectors from which government was likely to generate income include Rs. 3.300 billion from Provincial Excise, Rs. 10 million from Land Record and Settlement, Rs. 37 million from Stamps, Rs. 350 million from Forest, Rs. 25.600 million from registration, Rs. 0.37 million from Jails, Rs. 30 million from Administration of Justice, Rs. 45 million from Home department, Rs. 60 million from education, Rs. 30 million from health, Rs. 3.5 million from agriculture, Rs. 10 million from animal husbandry, Rs. 0.030 million from co-operative, Rs. 30 million from Industries, Labor & Minerals, Rs. 1,50 million from Sericulture, Rs. 1.8 billion from miscellaneous, Rs. 255 million from Communication and Works, Rs. 6.900 billion from Electricity, Rs. 10 million from Printing Press, Rs. 12 million from Armed Services Board, Rs. 15 million from Religious Affairs, Rs. 550 million from Food, Rs. 25 million from Tourism, Wildlife & Fisheries, Rs. 720 million from Water Uses Charges, Rs. 6.900 billion from Kashmir Council while Rs 9.940 billion would be generated from Federal taxes.
Total revenue generation has been estimated as Rs. 26.157 billion with Rs. 5.060 billion deficit which would be met by the federal government.
The Finance Minister told the house that Rs. 1.396 billion had been allocated for Administration, Rs. 433.391 million for Board of Revenue, Rs. 12.088 million for Stamps, Rs. 14.441 million for Land Record & Settlement, Rs. 685.775 million for Rehabilitation and Reconstruction, Rs. 2.300 billion for Pensions, Rs. 75.097 million for Public Relations department, Rs. 641.522 million for judiciary, Rs. 2.769 billion for Police, Rs. 83.330 million for Jails, Rs. 39.984 million for Civil Defense, Rs. 30.821 million for Armed Services Board, Rs. 1.473 billion for Communication and Works, Rs. 11.083 billion for Education, Rs. 2.582 billion for Public Health, Rs. 44.420 million for Sports, Youth & Culture, Rs. 114.957 million for Religious Affairs, Rs. 82.133 million for Social Welfare & Women Development, Rs. 336.287 million for Agriculture, Rs. 346.194 million for Animal Husbandry, Rs. 116.865 million for Food, Rs. 1.993 billion for trade, Rs. 481.612 million for Forest, Rs. 37.413 million for Co-operative, Rs. 4.968 billion for Electricity, Rs. 258.595 million for Local Government & Rural Development, Rs. 78.227 million for Industries & Minerals, Rs. 35.309 million for Printing Press, Rs. 42.555 million for Sericulture, Rs. 74.326 million for Tourism, Wild Life & Fisheries and Rs. 3.632 billion for miscellaneous which totals Rs. 36.265 billion allocation for non-development sector.
Discussing the development sector, the minister for finance revealed that Rs. 118.00 million had been allocated for Agriculture & Live stock, Rs. 32 million for Civil Defense, Rs. 135 million for Development Authorities, Rs. 635 million for Education, Rs. 15 million for Environment, Rs. 299 million for foreign aided projects, Rs. 287 million for Forest, Fisheries & Wild Life, Rs. 16 million for Information & Media Development, Rs. 200 million for Information Technology, Rs. 143 million for Industries, Rs. 800 for Local Government, Rs. 1.050 billion for Hydel Power, Rs. 613 million for Physical Planning and Housing, Rs. 75 million for Research & development, Rs. 25 million for Social Welfare, Rs. 140 million for Sports, Rs. 3.310 billion for Communications while Rs. 125 million had been allocated for tourism in the fiscal year 2011-12, showing 34 per cent increase in previous year’s development budget.
The minister further told that the development budget amounting to Rs. 8.284 billion would be provided by the federal government whereas Ministry of K&GB affairs would provide Rs. 2.494 billion additional amount.