PESHAWAR (Web Desk) – The PTI-led coalition government in Khyber Pakhtunkhwa has unveiled its third consecutive annual budget 2015-16 on Monday, with special focus on education and health. Presenting the maiden budget in KP assembly, Provincial Minister for Finance Muzaffar Syed unveiled
PESHAWAR (Web Desk) – The PTI-led coalition government in Khyber Pakhtunkhwa has unveiled its third consecutive annual budget 2015-16 on Monday, with special focus on education and health.
Presenting the maiden budget in KP assembly, Provincial Minister for Finance Muzaffar Syed unveiled a Rs488 billion budget for the fiscal year 2015-16 with total outlay of Rs472, 21 per cent greater than that of the outgoing fiscal year.
The budget, which is referred to as ‘poor-friendly’ by KP Finance Minister Muzafar Said, allocated a greater portion of funds to health and education.
Total current expenditure is estimated at Rs313b, while total current revenue expenditure is estimated to be Rs298b over next fiscal year, and total development expenditure at Rs174.9b.
The allocations for foreign project assistance and debt servicing both fell as compared to fiscal year 14-15 estimates by 17.3pc and 0.8pc respectively.
Of the total outlay, 29pc or Rs142b has been allocated to the Annual Development Programme – an increase of Rs42b compared to 2014-15’s revised estimate of Rs100b.
According to the minister, 34.54 percent of the budget has been allocated for development projects; Rs1.13 trillion for education and Rs35 billion for health sector.
Elementary and secondary education has been allocated Rs98.5b, while higher education, archives and libraries has been allotted Rs15.5b.
WELFARE AND DEVELOPMENT
The total budget for welfare, administrative and development budget estimates is Rs487.88b.
For 92 projects of healthcare, an allocation of Rs12.31 billion has been fixed in next fiscal year.
Rs25 billion has been fixed for district governments.
Rs3.20 billion has been announced for 39 projects of power generation.
Rs5.86 billion has been reserved for 24 projects of safe drinking water.
TOURISM & SPORTS
The KP government has reserved 1.21 billion rupees for 39 projects of tourism and sports.
A 10pc increase is expected in the salaries of civil servants, while daily wagers are to earn a minimum of Rs13,000 monthly, up from Rs12,000 during 2014-15.
Total estimated federal transfers are budgeted at Rs371b, of which federal tax assignment receives the largest share at Rs251b.
The earlier two budgets of the present government of PTI were presented by Sirajul Haq in his capacity as senior minister for Finance in 2013 and 2014.
The JI legislature from lower Dir district Muzaffar Syed had assumed the portfolio of Sirajul Haq who relinquished the charge after his election as Amir Jamaat Islami Pakistan.
The JI is coalition partner in the KP government with PTI and Awami Jamhori Ittehad Pakistan (AJIP).
Sources in Finance department said the province would generate Rs 32.75 billion, seven percent of the total receipts from its own sources in the 2015-16 financial year and would depend upon the centre for the remaining 93 percent.
The province would generate around Rs 22 billion from direct taxes and Rs 10.59 billion from indirect taxation in the coming fiscal which also included income generation from the hydel resources.