Kashmir Council's budget 14.5bln presented

Federal Minister for Kashmir Affairs Berjees Tahir who is chairman of the Kashmir Council presented on Sunday annual budget of the Coucil worth of Rs.14.48billion.

Addressing to the Kashmir Council's members, he proposed total reciepts for the fiscal year 2013-14 Rs 10.932 billion adding that Rs.10.80 billion will be received from tax revenues, Rs.87.045million from non-tax revenues and Rs.45.0 million from capital receipts

He presented tatal expenditures of the Kashmir Council Rs.14.48 billion for the current fiscal year before the members of the Council. He said that during the fiscal year, government has estimated that Rs.8.3857 billion will be trasfered to AJ&K Government as 80 percent share of incom tax collextion, while Rs.283.545 million for the liability of 80% share of 2011-12, Rs.1443.507million for the liability of 80% share for 2012-13 and Rs.200 million for refund of electricity dues to be paid to the AJK Government. He said that Rs.2.628 billion will be allocated for development expenditure of the Kashmir Council while Rs.1.542 billion for the non-development dxpenditure. 

Tahir told the members that bidget deficit of the current fiscal year is estimated Rs.3.551.  He said that the the deficit will be bridged through Rs.3.117 billion from the Grant from the Federation and Rs.434.193 million from savings schemes.