The PTI government announced its first federal budget for the fiscal year 2019-2020 in the National Assembly of Pakistan yesterday (Tuesday).
The budget was presented by Minister of State for Revenue Hammad Azhar. According to sources, following are the salient features of the budget.
Budget Review 2019-2020
- The provincial share in federal taxes is estimated at Rs 3,254.5 billion during 2019-20, which is 25.7% higher than the budget estimates for 2018-19.
- The expenditure on General Public Services is estimated at Rs 5,607.0 billion, which is 76.9% of the current expenditure.
- The overall expenditure during 2019-20 has been estimated at Rs 8,238.1 billion, out of which the current expenditure is Rs 7,288.1 billion.
- The net capital receipts for 2019-20 have been estimated at Rs 831.7 billion against the budget estimates of Rs 443.1 billion in 2018-19 reflecting an increase of 87.7%.
- The total outlay of budget 2019-20 is Rs 8,238.1 billion. This size is 38.9% higher than the size of budget estimates 2018-19.
- The net revenue receipts for 2019-20 have been estimated at Rs 3,462.1 billion indicating an increase of 12.8% over the budget estimates of 2018-19.
- The external receipts in 2019-20 are estimated at Rs 3,032.3 billion. This shows an increase of 171.2% over the budget estimates for 2018-19.
- The development expenditure outside PSDP has been estimated at Rs 85.8 billion in the budget 2019-20.
- The size of Public Sector Development Programme (PSDP) for 2019-20 is Rs 1,613 billion. Out of this, Rs 912 billion has been allocated to provinces. Federal PSDP has been estimated at Rs 701 billion, out of which Rs 348.2 billion for Federal Ministries/Divisions, Rs 348.2 billion for Corporations, Rs 5 billion for Earthquake Reconstruction and Rehabilitation Authority (ERRA), Rs 17 billion for Relief and Rehabilitation of IDPs, Rs 53 billion for Security Enhancement, Rs 5 billion for Prime Minister’s Youth Skill Development Initiative, Rs 2 billion for Clean Green Pakistan Movement/Tourism, Rs 1 billion for Gas Infrastructure Development Cess, Rs 48 billion for Merged Areas of FATA 10 Years Development Plan and Rs 24 billion for Pakistan Sustainable Development Goals (SDGs) and Community Development Programme.
- To meet expenditure, bank borrowing has been estimated for 2019-20 at Rs 339 billion, which is lower by 688.7 billion than the revised estimates 2018-19 reflecting decrease at 75%.