ISLAMABAD: The federal government presented Rs2.482 trillion fiscal budget 2009-10 here in the National Assembly on Saturday.

Presenting the budget speech State Minister for Finance and Economic Affairs Hina Rabbani Khar said it is an honour for her to be the first woman in the history of the country presenting the federal budget.

Hina Rabbani Khar said the total revenue receipts are expected at 1377.5 billion for FY10. She said the government has formed a 9-point agenda for social and economic rehabilitation.

The State Minister said the first pillar of this agenda is to strengthen the economy of the country while the second is social security.

She said the allocation for Benazir Income Support Program has been raised to Rs70 billion.

The other challenges relate to poverty, diminishing GDP, end of subsidy, inflation, agricultural development, health and education, Hina Rabbani Khar highlighted.

She said Pakistan is not only a front line state in fighting the war against terrorism but it is also a victim of this menace.

Salient Features:

• Total outlay of Budget 2009-10 is Rs2.489 trillion.

• Rs50 billion allocated for the displaced of operation in Malakand Division.

• Inflation rate has declined to 14.4 percent and it will further decline to single digit in the next fiscal year.

• Rs1.488 billion has been allocated for courts.

• The best way to lower the poverty is to take the inflation down, which was 25 percent last year.

• Rs1.488 billion has been allocated for courts.

• Tax base will be broadened.

• Property gains tax will be expanded.

• CVT will be continued.

• DGP growth expected to be 3.3 percent for 2009-10.

• Salaries of armed forces will be raised from July 1.

• Inflation target for 2009-10 will be 9%.

• Rs 70 billion for Benazir Income Support Program for 09-10

• Fiscal deficit will be limited to 4.9 percent or Rs722 billion.

• Current expenditure will be curtailed by 15.3 percent.

• Carbon surcharge will be introduced in FY10.

• Withholding tax on domestic vehicles ended.

• Rs2.2 billion allocated for environment.

• Tax target raised to Rs 2.17 trillion.

• Rs23.1 billion for health.

• Duty on wind power plants withdrawn.

• Social protection net being introduced for farmers.

• Agriculture and value addition to be given special attention.

• Use of new technology in agriculture sector to be encouraged.

• Rs18 billion for PSDP which is 25 percent higher than the previous year.

• CVT on property to be increased to 4 percent from 2 percent.

• Petroleum development levy to end in FY10.

• Government raises salaries of government of employees by 15 percent.

• Tax Collection Target has been set at Rs 1377.5 billion

• Current Expenditures are estimated at 1699.19 billion

• Allocation for People’s Works Program: Rs 28 billion

• Allocation for Workers’ Welfare Fund: Rs 10.8 billion

• Government and armed forces’ retired employees will receive 15 percent raise in their net pensions from July 1, 2009

• An increase of allowance equivalent to one basic pay, effective from July 1, 2009, has been approved for the military’s personnel deputed in the western part of the country. All the members of the armed forces will get the same from January 1, 2010.

• Rs 262 billion are for federal ministries

• Rs 38 billion are for Azad Jammu and Kashmir, FATA and Northern Areas

• Rs 60 billion are for Corporations

• Rs 60 billion are for Water Sector Development

• Rs 47 billion are for Dams Construction/Raising

• Rs 18 billion for Agriculture

• Rs 23.15 billion have been allocated for Health sector

• Rs 32 billion have been allocated for Education with Rs 22.5 billion for Higher Education

• Development Budget allocated for the Provinces: Rs 200 billion

• National Highway Authority will receive Rs 40.2 billion

• Rs 12.7 billion are for Railways

• Rs 70 billion are allocated for Transport and Communication

• Rs 85 billion have been allocated to overcome energy crisis and would be spent on Electricity, Gas and Water Supply projects.

• Rs 2.96 billion have been allocated for environment protection

• Rs 3.6 billion are for National Internship Program

• Rs 450 million for cultural development

• Rs 583 million for Sports