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Budget 2015-16 Rs4.451 tr budget Details Budget 2015 June Announced

Budget 2015-16 Rs4.451 tr budget Details

• The new budget, with a Rs4.451 trillion outlay, is expected to focus on spurring economic growth and attracting investment.
• The National Economic Council has already approved Public Sector Development Programme of Rs700 billion for the next financial year.
• The country will target growth next year of 5.5% when it unveils its 2015-16 budget, with historically low interest rates and infrastructure spending expected to fuel the fastest expansion since the global financial crisis.

Budget 2015-16 Announced Capital gains tax imposed on sale of shares

Budget 2015-16 For shares sold after two years, the rate of tax would be 7.5%. Previously, shares sold after a holding period of two years were exempted from tax.
Budget 2015-16 For shares sold between 1-2 years, the rate would be 12.5% — increased from 10%. While, for shares sold within a year, the rate would be 15%.

Budget 2015-16 Announced Minimum wage increased to Rs13,000

Budget 2015-16 Minimum wage has been increased from Rs12,000 to Rs13,000.

Budget 2015-16 Announced Salary tax rate reduced

• Budget 2015-16 For salaried individuals making between Rs400,000 to Rs500,000 annually, tax rate has been reduced from 5% to 2%.
• Budget 2015-16 Further, federal excise duty on cigarettes has been raised by 5%.
• Budget 2015-16 Meanwhile, FBR’s authority to give tax exemption has been revoked.

Budget 2015-16 Announced Additional tax on high electricity bills

• Budget 2015-16 An additional 10% tax has been imposed on electricity bills above Rs75,000 per month.
• Budget 2015-16 Pension increased by 7.5%

Budget 2015-16 Announced Pension has been increased by 7.5%.

Budget 2015-16 Forex reserves to stand at $19 billion by end of year
Budget 2015-16 “Forex reserves will be $19 billion by the end of this year,” the finance minister said.

Budget 2015-16 Announced Rs20 billion Allotd for PM’s special schemes

Budget 2015-16 Rs20 billion Allotd for special schemes launched by the prime minister. These include provision of laptops, business loans and interest-free loans, among others.
Budget 2015-16 Markup rate of Business Youth Loan Scheme reduced to 6%
Budget 2015-16 Markup rate of Business Youth Loan Scheme has been reduced from 8% to 6%.

Budget 2015-16 Announced Rs600 billion Allotd for farmers

“We are working for the uplift of the agriculture sector and for this purpose a Credit Guarantee Scheme will be initiated,” Dar said Budget 2015-16.
“Moreover, crop loan insurance and livestock insurance schemes will be launched.”
Budget 2015-16 Dar announced for this purpose Rs600 billion have been Allotd as compared to Rs500 billion in the previous year.

Budget 2015-16 Announced Financial deficit to be contained at 5%

• Budget 2015-16 The financial deficit is said to be restricted at 5%.
• Budget 2015-16 Rs 20.88 billion Allotd for health
• Budget 2015-16 Rs 20.88 billion have been Allotd for health.
• Budget 2015-16 Rs71.5 billion Allotd for education
• Budget 2015-16 Rs71.5 billion have been Allotd for higher education, 14%  more than the previous year.
• Budget 2015-16 Rs3 billion Allotd for Ramzan package
• Budget 2015-16 Further, Rs3 billion have been Allotd for Ramzan package.

Budget 2015-16 Announced Green Line Metro Bus for Karachi

Budget 2015-16 Dar announced Rs16 billion has been Allotd for Green Line Metro Bus service for Karachi, to be completed by December 2016.

Budget 2015-16 Announced Rs3.5 billion for security for CPEC route

In the new budget, Budget 2015-16 an allocation of Rs3.5 billion is given to Ministry of Interior for raising 28 Civil Armed Forces Wings for ensuring security for CPEC route and Chinese working in Pakistan.

Budget 2015-16 Announced Rs78 billion for Pakistan Railways

• Budget 2015-16 A sum of Rs78 billion has also been given to Pakistan Railways.
• Budget 2015-16 The Higher Education Commission has been given Rs20.5 billion, Rs4.5 billion less than this year’s HEC development budget.
• Budget 2015-16 An amount of Rs23.2 billion has been given to Kashmir Affairs and Gilgit Baltistan and Rs19.7 billion to State and Frontier Region’s Division.
• Budget 2015-16 The government’s planning to implement CPEC projects seems haphazard, as the allocations for CPEC were changed for the third time.

Budget 2015-16 Announced Rs100 billion for TDPs

Budget 2015-16 Government proposes Rs100 billion allocation out of the development budget for special development programme for Temporarily Displaced Persons and Security Enhancement.

Budget 2015-16 Announced PAEC budget reduced

Budget 2015-16 Pakistan Atomic Energy Commission (PAEC) budget has also been reduced from Rs59.3 billion to Rs30.4 billion for the new financial year.

Budget 2015-16 Announced Rs31 billion Allotd on water management

“We are investing a sum of Rs31 billion on water management,” Dar added Budget 2015-16.

Budget 2015-16 Announced Rs112.28 billion Allotd for WAPDA

Budget 2015-16 Rs112.28 billion have been Allotd for the Water and Power Development Authority for financial year 2015-16.

Budget 2015-16 Announced Govt Allots Rs700 billion for development spending

• Budget 2015-16 EXCLUSIVE: Amid last-minute changes to accommodate the prime minister, the federal government has Allotd Rs700 billion for Public Sector Development Programme Budget 2015-16  for the new financial year –up by 29% or Rs158 billion over outgoing financial year’s revised Budget 2015-16.
• Accommodating the PM Budget 2015-16: Govt Allots Rs700 billion for development spending, up 29%

Budget 2015-16 Announced Rs25 million have been Allotd for scholarships

• Further, Budget 2015-16 Dar announced Rs25 million have been Allotd for scholarships.
• Budget 2015-16 Rs102 billion Allotd for Benazir Income Support Programme
• Regarding the Benazir Income Support Programme Budget 2015-16, Dar said during 2014-15, it stood at Rs40 billion, however, it was later raised to Rs57 billion and now Rs102 billion rupees are being released for it.

Budget 2015-16 Announced ‘Electricity growth of 19,600MW expected by 2017′

• “We are expecting an electricity growth of 19,600 megawatts by 2017,” Dar added Budget 2015-16.
• He said Budget 2015-16 the government is working on projects, including those to produce power from LNG.
• “Work on dam projects such as Diamer and Dasu and others is also underway.”

Budget 2015-16 Announced Dar proves case for strong economic growth

• Budget 2015-16 Finance Minister Ishaq Dar cites an Express Tribune story to prove case for strong economic growth.
• Read: Shift in focus Budget 2015-16: Rise of Pakistan just a matter of time, says David M Darst
• “According to an analysis by Goldman Sachs, Pakistan, Budget 2015-16 currently ranks 44th in world economies and will become the 18th largest Economical Wealth by 2050,” Dar added Budget 2015-16.
• “Standard and Poor as well as Moody’s have termed Pakistan’s outlook positive.”
• “Efforts afoot to restrict financial deficit to 5% while during the 2015-16 period this will be restricted to 4.3%,” the finance minister said Budget 2015-16.

Budget 2015-16 Announced Rs700 billion Allotd for Public Sector Development Programme

• Budget 2015-16 Among last-minute changes to accommodate the prime minister, the federal government has Allotd Rs700 billion for Public Sector Development Programme for the new financial year –up by 29% or Rs158 billion over outgoing financial year’s revised budget.
• Budget 2015-16 Finance Minister Ishaq Dar presents federal budget for the year 2015-16.
• “Government had vowed to wrong economic pundits and our economic ship is safe now,” he said Budget 2015-16.
• “We have to save Pakistan from defaulting,” the finance minister said Budget 2015-16, adding the country has to achieve macro-economic stability.
• “We will achieve the target of 5% by June 30, 2015,” he upheld Budget 2015-16.
• “We’ve put a dwindling Economical Wealth on the path of progress,” Dar further said Budget 2015-16.
• “GDP remained at 4.24 % and depicts persistent growth,” he added Budget 2015-16.
• Further, the finance minister said Budget 2015-16, “Prices of commodities and oil were controlled.”
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• “Unusual and prolonged winter season resulted in the damage of rice production and large-scale manufacturing and production saw a decline,” he added.