BUDGET 2012-13

BY:-MUHAMMAD AMEEN ASIF

Main points of budget presented by Federal Finance Minister of Pakistan  Abdul Hafeez Shiekh on 1st june 2012.
MAIN POINTS OF BUDGET 2012-13 ARE  :-
1-Estimated Amount  Rs. 2960 Billion
2- Estimated Deficit of Budget   Rs.1184 Billion ( 5 %)
3-Consolidated Savings        Rs 3203 billion ( Rs 2960 For Federal Govt.)
4-Increase in Salaries and Pension of govt. Servants   20 %
5-Annual Exemption from income Tax increased from 3 Lakh to 5 lakh
5-GST  on all Goods 16%
6-Tax on Purchase of Shares 0.1 %

7- Target for Inflation  is set 9.5 %
8- subsidy for Departments  Rs 208.5 Billion
9- Expected Tax Revenue    Rs. 2504 Billion and non - Tax Revenue Rs  730 Billion (total 3234 Billion)
10-with holding tax on drawing of amount from Banks in one day is increased to Rs 50,000 from 25,000 at the  rate of 0.25 %.
11- The budget is not returning to surplus as promised,
12-The budget also not  launched the first stage of the Historic National Disability Insurance Scheme, strengthens the aged care system and improves dental services.


 More details are given below.taken from daily Nawa i Waqat  dated 2nd June 2012.

Chart of Proposed new pay scales of Govt. employees 2012-13