FM Miftah Ismail presents 2018 - 19 budget in assembly

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By MG News | April 27, 2018 at 05:47 PM GMT+05:00

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Budget is key to continuous economic progress in a sequential manner, Dr. Miftah Ismail said as a prelude to budget.

Salient Features of Budget 2018 – 19 are as follows:

  1. Total Expenditure: Rs. 5246.0 billion
  2. Net Federal Revenues: Rs. 3070.0 billion
  3. Federal Budget Deficit [(1)-(2)]: -2716.0 billion
  4. Provincial Surplus: Rs. 286.0 billion
  5. Consolidated Fiscal Deficit [(3)+(4)]: Rs. -1890 billion (-2.9 percent of GDP)

Key Pointers

  • 10 percent increment in salaries
  • Government announced Amnesty Scheme
  • Non-Filers will not be able to buy properties worth Rs. 40 lacs
Overall Budgetary Position

Description

Budget Estimate 2017 – 18

Revised Estimate 2017 – 18

Budget Estimate 2018 – 19

Gross Revenue Receipts

5,310

4,992

5,660

Provincial Transfers

2,384

2,316

2,590

Net Revenue Receipts

2,926

2,676

3,070

Total Federal Expenditure

4,753

4,857

5,246

Current Expenditure

3,477

3,870

4,179

Development and Net Lending

1,276

987

1,068

PSDP

1,001

750

800

Other Development Expenditure

152

153

180

Net Lending

123

83

87

Federal Deficit

-1827

-2180

-2176

Estimated Provinical Surplus

347

274

286

Overall Fiscal Deficit

-1480

-1907

-1890

% of GDP

-4.1%

-5.5%

-4.9%

Financing of Debt

1,480

1,907

1,890

External Financing

511

708

342

Domestic Financing

918

1,198

1,548

Non-Bank

528

612

533

Bank

390

586

1,015

Privatization Proceeds

50

0

0

GDP

35,919

34,396

38,388

 

Key Points

Salaries

+10 percent

Pensions (Previous Rs. 6000)

12,000

Overtime (Previous Rs. 40 per hour)

Rs. 80 per hour

Economic Growth

5.8 percent

Agricultural Growth

3.8 percent

Inflation

3.8 percent

Fiscal Deficit (% of GDP)

5.5 percent

FBR Revenues

Rs. 3,935 billion

Loans to Agriculture Sector

Rs. 800 billion

Loans to Private Sector

Rs. 441 billion

Export Growth

+13 percent

Import Growth

+17 percent

Current Account Deficit

Rs. 12 billion

Foreign Investment

$ 2.9 billion

Remittances

$ 20 billion

SBP Reserves

$ 11 billion

Companies Registered (5 Years)

33,285

PSDP Budget

Rs, 1,030 billion

FBR Revenue Target

Rs. 4,435 billion

Sales Tax on Agriculture (Fertilizer)

2 percent

Agriculture Fund (Announced)

Rs. 5 billion

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