Budget 2014-15 presented in National Assembly

ISLAMABAD: Finance Minister Ishaq Dar is presenting the budget for the fiscal year 2014-15 with a total outlay of Rs3.945 trillion in the National Assembly.

Earlier, the budget was approved by the federal cabinet during a meeting chaired by Prime Minister Nawaz Sharif.

Budget Recommendations:

Rs15 billion earmarked for the construction of Diamer-Basha dam: Dar
Rs30 billion allocated for Karachi-Lahore Motorway
Rs26.8 billion allocated for Health sector
Rs63 billion allocated for Higher Education
Funds have been allocated for Karachi Circular Railway
500 locomotives will be added to Pakistan Railways
Rs77 billion has been earmarked for uplift schemes, salaries and pension in railway sector.
Rs525 billion allocated for public sector development
Rs118 billion allocated for Benazir Income Support Programme
Monthly stipend for Benazir Income Support Programme has been raised by Rs300 to 1500 per month.
Economic growth has reached 4.14 per cent
Inflation rate was 8.6 per cent in current fiscal year
Federal Excise Duty reduced from 19.5 to 18.5 per cent
Decrease in telephone service withholding tax from 15 to 14 per cent
10 per cent ad-hoc relief for government employees
Grade 1-15 officers to be provided Rs1,000 fixed medical allowance
Minimum wage increased from Rs10,000 to Rs11,000
Minimum pension raised from Rs5,000 to Rs6,000