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Rs457 bn surplus budget presented for Sindh
KARACHI: Sindh Government Friday presented Rs457.54 billion surplus budget for the fiscal year 2011-12, Geo News reported.Sindh Finance Minister Murad Ali Shah presented the budget envisaging a total outlay of Rs457 billion 15 with a surplus of Rs882 million.
He announced 15 raise in the salaries of the provincial government employees and 20 percent increase in pensions.
The total revenue receipts are estimated at Rs 458.42 billion while the funds to be received from federation are budgeted around Rs252 billion. Direct transfers are estimated at Rs53 billion.
The estimate of total provincial earnings including the sales tax on services has been made at Rs53 billion.
The target for sales tax collection has been set at Rs25 billion.
Shah said the current revenue expenditure stands at an estimated Rs.283.147 billion which is one percent higher than the revised estimate of Rs.281.237 billion for the outgoing fiscal year 2010-11. He added that this time conservative estimates were made keeping in view the financial position of the province. He said that the current revenue expenditure of province has actually decreased from Rs.147.451 billion for outgoing financial year to Rs.146.276 billion.
He said the share of local governments has increased to Rs.135.171 billion from the previous fiscal year’s Rs.120.815 billion. The share of Local Government includes District Annual Development Program (ADP), which is estimated to be over Rs.20 billion which is reflected on current revenue expenditure in provincial budget.
Courtesy www.geo.tv