(Leggo TV Source) Finance Minister Shaukat Tarin proposed a federal budget of 8,487 billion rupees. The economic growth target for the next fiscal year is set at 4.8 percent, a 10 percent increase. In ad hoc wages for federal employees, a 10 percent increase in pensions and a minimum wage of 20,000 rupees per month. Pakistan Federal Budget 2021-22. Emergency aid code in the federal budget. Rs 100 billion has been allocated to the fund. While Rs 5 billion has been allocated for local elections and the new census.
Pakistan Federal Budget 2021-22
20 billion rupees was offered for Pakistan International Airlines (PIA) and 16 billion rupees for steel mills.
100 million rupees has been allocated for rape funds and 66 billion rupees for college commissions.
In his speech on the budget, the finance minister said there would be no new wage tax.
Pakistan Federal Budget
Prime Minister Imran Khan also attended the National Assembly session. As soon as the federal minister’s budget speech began, members of the opposition made a fuss in the assembly, but the finance minister continued to present the budget. According to the budget document for the next fiscal year 22-2021, Rs.
Education Budget 2021-22
The federal government has allocated 91.97 billion rupees for education and services in the budget for the 2012-13 fiscal year.
According to budget documents for Preschool and Primary Education, Rs 3.021 billion, Rs 7.632 billion for secondary education and services, Rs 78.195 billion for higher education and services, and Rs 317 million for services in support of education.
The document states that Rs.1.9 billion will be allocated for administration and rupees 89 for education and services which are not listed elsewhere.
Pakistan Federal Budget 2021-22 health budget
The federal government has allocated Rs.28,352 billion for health and services in the budget for the 2012-13 financial year.
According to budget documents, more than 3 rupees was allocated for medical products, equipment and equipment and 23,982 billion rupees for hospital services.
More than 84 rupees was allocated for public health, while 3.4 billion rupees was allocated for health administration.
100 billion rupees was allocated for Corona-related expenses in the budget year 22-2021.
More than Rs 255 billion has been allocated for social security in the budget for the fiscal year 22-2021, of which Rs 252.46 billion will be spent on social security.
The budget document does not provide further details on social security financing.
State Tax and Estimated Tax Revenue
The federal net sales target for the next fiscal year is set at Rs. 4.497 billion. The tax collection target for the next fiscal year is estimated at Rs. 2182 billion income tax, which is Rs 139.28 billion more than last year.
According to budget documents, corporate taxes were cut by 2.72 billion rupees last year. Next year only 56 rupees.
The Rs.145 billion tariff increase will generate Rs.785 billion in revenue. While the Rs.587 billion sales tax increase will target Rs.2506 billion.
An increase of Rs 18 billion in 3G and 4G taxes resulted in a tax fee of Rs 45.40 billion.Pakistan Federal Budget 2021-22
The province is expected to collect 35 billion rupees in interest and 90 billion rupees in interest from government agencies. SBP’s profit is said to have reached Rp 650 billion.
Provincial share in taxes
According to budget records for the next fiscal year.The association will receive 3.310 million rupees from the distributed tax revenue.
According to the National Finance Commission (NFC). Punjab received 1.691 billion rupees, 848 billion rubles, Khyber Pakhtunkhwa 559 billion rupees and Balochistan 313 billion rupees.
Tax exemption for small cars
The finance minister said the government had decided to cut the sales tax on 850 cubic meters of Pakistani-made cars from 17 percent to 12.5%. While exempting government tariffs and levies on imported vehicles to 850 cubic meters and cutting taxes. It was decided to grant an exception.
The finance minister said in his budget speech that locally produced small cars would be exempt from VAT. Federal excise taxes, reducing the tax rate on electric vehicle sales from 17 percent to one year.
It was decided to grant exemptions to manufacturers of existing vehicles and new models from the down payment. It is also proposed to lower taxes on some types of locally produced heavy motorcycles, trucks and tractors.
Cell phones are getting cheaper, calls are getting more expensive
The federal government budget for the next fiscal year 22-2021 has decided to impose a federal excise tax on cell phones. That are more than three minutes long.
Federal Finance Minister Shaukat Tarin said it had been decided to impose a federal excise tax on cell phones lasting more than three minutes.
He said federal excise taxes would be levied on internet data and text messaging use.
The finance minister said the current tax cut rate on mobile phones would be reduced from 12.5 percent to 10 percent.
According to this proposal in the federal budget, cell phones will be cheaper and phone calls will cost more.
The federal finance minister said the government had decided to include e-commerce in the sales tax.
The budget provides tax exemptions for machinery, machinery, equipment and raw materials for the IT sector.
Shaukat Tareen said the tax cut on mobile services would be reduced gradually to 8%.
The budget has allocated Rp 12 billion for the agricultural sector. It was also decided to abolish the federal excise tax on fruit juices.
Tax exemption for warehouses with agricultural goods is proposed. 1 billion rupees was allocated for locust projectiles and food security projects.
Rs 2 billion has been allocated to increase production of rice, wheat, cotton, sugar cane and pulses and rupees 1 billion has been allocated to increase olive cultivation.
Federal development plan
A budget of Fr.8,487 billion, Rs.964 billion is allocated for development projects and net loans.
Rs 739 billion for the Karachi Transformation Plan. provided
The federal budget provides Rs 739 billion for the transformation plan in Karachi.
The federal government will provide 98 billion rupees, while public-private partnerships will add 509 billion rupees.
These 107 projects, valued at Rs 444 billion, will complete the development of more than 14 Sind areas.
In his budget speech, Shaukat Tareen said work had begun on the Sukkur-Hyderabad and Sialkot-Kharian highways and the Main Line (ML) project, Main Line One One project, valued at $9.3 billion Australian dollars, would start in July. Dollar. It finishes with the price.
The budget provides 12 billion rupees for the agricultural sector, while a 3 lakh rupee grant is provided to build houses for those on low incomes.
Imported books and magazines, agricultural equipment, IT machines, fruit juices become cheaper
Imported books and magazines, agricultural equipment, EDP machines, fruit juices became cheaper in the federal budget, cell phone calls lasted more than three minutes and internet data became more expensive.
It is proposed to lower the federal excise rate for telecommunications from 17% to 16%. It was decided to remove tax cuts on banking, Pakistan stock exchange and air services. Pakistan Federal Budget 2021-22. Withholding tax on transactions will also be eliminated.
35% increase in oil tax
In the following fiscal year, the amount received increased by 35.5% in the form of an oil tax on mineral oil products.
A levy target of 610 billion rupees on various petroleum products, gasoline, diesel, kerosene, high octet and light diesel has been set for the next fiscal year.
According to budget documents, the amount allocated for the oil tax is 160 billion rupees more than the target for the current fiscal year, and the federal government has set a target of 450 rupees for the oil tax for this fiscal year.
In the next fiscal year, it is proposed to raise the tax on liquefied gas from Rs 2.8 billion and increase the target levy fee from Rs 5.51 billion to Rs 7.60 billion.
For which sectors will the funds be maintained?
The federal budget for the next fiscal year allocates Rs 682 billion for subsidies to various sectors including the energy, oil, Pasco, Utility Store Companies, New Pakistan Housing Authority and fertilizer sectors.
The subsidy for the next fiscal year is 226 percent higher than the current budget year, but the subsidy for the subway has been cut in half.
Subsidies in the energy sector increased 457% from Rp 139 billion to Rp 596 billion.
Subsidies to power distribution companies were raised from Rs 129 billion to Rs 245 billion. Grants to K Electric increased from Rs 10 billion to Rs 85 billion.
To control revolving debt, Rs 266 billion was budgeted for IPP and Power Holding Pvt. GmbH.
Subsidies for the oil sector were increased from Rp 10 billion to Rp 20 billion. Utility Store Enterprise Grants increased from Rs.3 billion to Rs.6 billion. The subway bus service grant has been reduced from Rs 2 billion to Rs 1 billion.