Federal Budget 2015-2016 Pakistan by Ishaq dar
People wait for budget whole the year and they have so many expectations. Government employees wait for salary increase in budget. last year in 2014-2015 salary was increased 10% that made employees unhappy. it was expected in this year budget that pay increment may be very much. employees was expecting revised scale and praying. not only govt employees but farmers, factories, import export business all departments accept the affect of budget. people are hoping for Best.
Federal budget of pakistan 2015 to 2016 has been announced today on 5 june 2015 by ishaq dar . they announced budget in his briefing shortly. Check out here complete budget details 2015- 2015. as his announcement was :
Federal budget 2015 details are :
- For Benzir income support 102 Billion rupees are reserved.
- 25 Million will be spend on scholarships.
- Prime Minister Internship Program will be continued and 50 thousand youngsters will be appointed as internees.
- For special PM schemes as for laptops distribution and for business and interest free loans 20 billion rupees are allocated.
- 100 billion rupees allocated for IDP’s.
- Electricity increment that is expected till 2017 is 19,600 MW.
- According to types there are 5 different types of taxes that will be applied.
- Mobiles Regulartory Duty has been finished.
budget 2015 to 2016 for government employees:
- 7.5 % salary increase for govt employees in budget 2015 -2016 is announced.
- 2 Adhoc Relief will be added in salary (basic pay).
- For retired govt employees 25% medical allowance is allocated.
- Rs.12,000 increment in Pension.
- one increment will be provide to employees of Grade 5.
- 38 billion rupees are reserved for energy plans.
- For Karachi Green Line Bus there are exclusively 16 billion rupees.
- On Railway 78 Billion are reserved that will be spend for betterment of railway department of Pakistan.
- Rs.31 Billion for Water department are announced.
- For Health department 20.88 Billion are reserved.
- In education department 71.5 billion are planned to spend.
- Ramadan is coming soon after few days so 3 billion are allocated for Ramzan package.
- In electricity department means for WAPDA 112.28 billion are reserved.
- 4 billion rupees will spend on ‘Bait-Ul-Maal’.
There is good news for farmers:
- 30 thousand tube well for farmers are approved in the budget but for those farmers who have land 12 acre or less.
- Solar Tube Wells will be provided to Farmers.
- For Agricultural Loan 600 Billion will be spend.
- Business Youth loan scheme rate is reduced 8% to 6%.
Taxes Increment & Reduction:
- Cigarette federal excise duty has been increased 5 %.
- On money transfer 6% taxes will be applied.
- Good news for the companies those have above than 500 workers. finance minister ishaq dar announced 1% reduction in taxes.
- 3% reduction of tax on bricks and concrete.
- For KPK tax is finished on Fish Supply.
- On Rice Mills tax is totally finished.
- People who does not pay tax they will have to pay ‘With Holding Tax’.
- Decided financial loss is 5%.
- 10% tax will be imposed on the electricity bills more than Rs.75,000/ month.
Import and Export:
- Rs.6 billion are reserved for export in buget 2015-2016.
- Agricultural machinery import will be reduced from 43% to 9%.
Capital gains tax detail on shares sale you can check by this graph: