FM Miftah Ismail presents 2018 - 19 budget in assembly
By MG News | April 27, 2018 at 05:47 PM GMT+05:00
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:
- Total Expenditure: Rs. 5246.0 billion
- Net Federal Revenues: Rs. 3070.0 billion
- Federal Budget Deficit [(1)-(2)]: -2716.0 billion
- Provincial Surplus: Rs. 286.0 billion
- 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
| 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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