AJK unveils Rs232b tax-free FY24 budget

State to increase salaries, pensions according to Centre's pattern

MIRPUR:

The government on Wednesday presented a historic tax-free budget worth over Rs232.047 billion for the financial year 2023-2024 in the budget session of Azad Jammu and Kashmir (AJK) Legislative Assembly.

An amount of Rs42 billion has been allocated in the budget for development projects. Additionally, a revised budget of Rs156.0947 billion for the fiscal year 2022-23 was also presented for approval.

To improve the economic condition of employees, the state minister for finance stated that the government would consider increasing the salaries and pensions of government employees, following the pattern set by federal government employees.

During the budget presentation in the AJK Legislative Assembly, State Minister for Finance Colonel (retd) Waqar Ahmad Noor shared that the total estimated non-development expenditure for the next financial year was Rs190.047 billion.

This included Rs7.5669 billion for services and general administration, Rs1.672 billion for Board of Revenue, Rs0.044 billion for stamps, and Rs51.300 million for land record and settlement.

Similarly, allocations included Rs1,992.200 million for relief and rehabilitation, Rs35 billion for pensions, Rs379.300 million for public relations, Rs3.0114 billion for judiciary, Rs8.1372 billion for police, Rs0.3269 billion for jails, Rs398.600 million for civil defence, and Rs100.8 million for the armed services board, among others.

An amount of Rs40.133 billion was allocated for the communication and public works department, while Rs17.526 billion for education and Rs183.2 million for sports, youth, culture, and transport.

In addition, Rs266.2 million was allocated for religious affairs, Rs746.6 million for social welfare and women's affairs, Rs1.0616 billion for agriculture, and Rs964.600 million for livestock and dairy development.

The state minister also mentioned that Rs372.4 million was allocated for food, Rs14.53 billion for state trading, Rs1.7856 billion for forests/wildlife/fisheries, Rs25.5 million for cooperative, Rs10.64 billion for energy and water resources, Rs817.4 million for local government and rural development, Rs278.2 million for industries, labour and minerals resources, Rs156 million for printing press, Rs140.2 million for sericulture, and Rs176.9 million for tourism and archaeology.

Further, the budget estimates included Rs4 billion for capital expenditure. The total revenue estimated for the fiscal year 2023-24 was Rs166.45 billion, which included Rs44 billion from inland revenue, Rs150 million from land record and settlement, Rs400 million from stamps, and other allocations for various sectors and departments.

The minister proposed an amount of Rs900 million for agriculture and livestock, Rs150 million for civil defence/SDMA, Rs345 million for development institutions, Rs4.3 billion for education, and other allocations for environment, forests, public health, industry, minerals, technical education, governance, transport, information and media development, information technology, and other sectors. 

APP