ISLAMABAD: The federal government accessible Rs2.482 trillion fiscal budget 2009-10 here in the National Assembly on Saturday.Presenting the budget talking State Minister for Finance and Economic Affairs Hina Rabbani Khar supposed it is an honour for her to be the first woman in the past of the country presenting the federal budget.Hina Rabbani Khar said the total proceeds receipts are expected at 1377.5 billion for FY10. She said the government has formed a 9-point agenda for social and financial 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 bear 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.Total Public Sector Development Program (PSDP) has been billed at Rs646 billion and Rs 343 billion for Defence. 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.The Minister said Pakistan has previously spent 35 billion dollars in the war against terrorism and in this budget Rs50 billion have allocated for the relief and rehabilitation of IDPs of Swat and Malakand separation.She said Pakistan is confront with severe insurgency at its Western border and the government approves raise in the salaries of the armed forces.The fiscal deficit has been brought down to 5.3 percent through serious labors of the government and this will be further curtailed to 4.9 percent in the next fiscal.She asserted that each individual will have to pay tax so that Pakistan could stand on its feet. The existing tax payers will not be burdened with added tax but instead the tax net will be broadened further, she added.The inflation rate stood at whopping 25 percent in 2008 it will have to be brought under 10 percent.The GDP is expected to grow by 3.3 percent in 2009-10.
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