An incentive and relief laden federal budget with a total outlay of 5,310 billion rupees has been announced for the next fiscal year.
Finance Minister Ishaq Dar presented budgetary proposals for the next year in the National Assembly session in Islamabad on Friday.
The resource availability during next year has been estimated at 4,681.2 billion rupees and net revenue receipts at 2,926 billion rupees. Tax collection by FBR is estimated at 4,013 billion rupees.
The provincial share in federal taxes is estimated at 2,384.2 billion rupees, which is 11.6 percent higher than the budget estimates of the outgoing fiscal year.
The external receipts during next year are estimated at 837.8 billion rupees. The budget envisages defense allocations of over 920 billion rupees from the previous year allocation of Rs 840 billion.
The budget envisages merger of fifty percent ad hoc relief allowance granted to civil employees and ad hoc allowances of 2009 and 2010 for personnel of armed forces with the salary and ten percent ad hoc relief allowance on the basic salary after merger.
Zarb-e-Azb allowance for armed forces personnel will be in addition to this.
The Minister announced ten percent increase in pensions.