A 2.89-trillion-rupee budget for the 2009-2010 fiscal year has been announced, bringing with it a projected deficit of a whopping five per cent of GDP.
The government has promised much: reforming the existing tax structure to make it more equitable, moving towards taxing the agricultural sector and improving the tax-to-GDP ratio. The budget also calls for an end to subsidies to the power sector and brings in massive stimulus packages to prop up the stuttering textile sector and regions ravaged by violence.
The question remains, can it deliver? How many of the economic projections used to inform the budget-making process were simply wishful thinking, and how many were based in fact? Can the government finally use the crisis facing the nation to move us towards sustainable growth or will we see a future dominated by more bailout packages and special aid deals?
Dawn.com invites you to weigh in on the federal budget.
well tax on sms is a service tax, in india its 10.26%. as more and more people start using mobile phones and services it is a good way for federal income.
The budget will deliver…. definitely… more hunger, more poverty, more stress and more grief for the common man and the majority modest-income class of Pakistan!!!
Policies deliver, budgets don’t. Considering that, the question being asked is rather clumsy. Perhaps the author wants us to back-solve the intended policies from the budget.
Unfortunately our leaders never have cared for Pakistanies. That includes every polititions,who promise Junnet and give us hell. The current budget is proof and they believe Pakistanis are fool.
In USA the leaders do warm their pockets but they do work for ordinary citizens and the glory of USA. They have made USA an only Super-Power with biggest economy.
Our budget is shameful and will give us 25% inflation. Power outsage has grown worst. General Musharruf tried for many years to construct Kala Bagh dam but they did not give him chance. We were supposed to have no power outage this march, that miserably failed. Now the projection is december of this year. In all this time the powerty, inflation, desparation, power shortage has increases so much that only a stupid can believe our leaders.
Bhash dam construction will take many years. So is Neuclear Power plant takes many years to work. We need to work on war footing for electricity. So that our industry can produce some thing to export.
I have suggestion to protect the loss of Foriegn exchange un-necessarily.
I suggest that there should be a limitation on the foriegn tours by government officials. We will save lot, why not use the telephone instead. Same way there should be limit on travell of rich people.
I also want the rich students to stop going to foriegn countries for educations. Lot of money of rich people puts a drain on foriegn exchange. And brain drain is extra.
I also want to limit the people who want to perform Hajj, to 50,000 people. All should be elected by lottery and people who have performed hajj before should not be included. Same way the travell for Omra should be limited to not more than 2 in life time.
I fear that many people will consider it relegious issue. But please do not forget that the survival is at stake. No more honeymoons to Switzerland.
All these restrictions can be removed after no Pakistani is hungry, All debts are paid, there is surplus in trade and inflation rate is zero.
It is thoroughly unsatisfactory to see the condition of the poor people made from bad to worse. The budget is weak as it does not mention how the economy of our beloved country shall be resolved. We see our neighbour India growing, nd growing, nd the people of people of Pakistan being denied the basic neccessities of life. This is totally unacceptable, it is advised that the government revisit the budget and make proposals for the common man on how it is going to improve the lives of people.
Wat kind of proposal is introducing 20 paisa tax on the sms?
Disappointing to see what the government has done so far.
Simple answers to the questions asked:
Can the budget deliver?
It has never delivered in the past, how could it in dire straits.
How many of the economic projections used to inform the budget-making process were simply wishful thinking, and how many were based in fact?
It was all on paper and pen.
Can the government finally use the crisis facing the nation to move us towards sustainable growth or will we see a future dominated by more bailout packages and special aid deals?
Expect more of the latter & just forget about growth.
Note: People with proper sense and morals show growth
-No, it is a political budget. Four major issues were ignored, inflation, lack of health care system, unemployment and costly and poor education. Also no substantial money was allocated to stimulate the economy of the country. Off course more funds for president and Prime Minister House. Our parliament should reject this budget.
Dear All,
Wrong expectations! I am very sorry, but some how the optimist in me has died. i do not know about the rest of the world, but in this country, nothing can chnage. These people presenting the budget, send them to live in my village, they’ll learn in a day what to present.
reagrds,
cremated Wolf.
budget- wrong words they are using, they should say income for politics families. they are talking about to taxing farmers and agricultural sector, yeh thats right, wheat flour is alredy above 1000 rs after tax it will at least 2500rs. all of our leaders, 90 percent of their families are living out side the pakistan, and that budget will be perfect for thier families. wake up pakistan people we still have time.
The Federal Budget 2009-10 was nothing more than juggling of figures. A common man does not understand how figures are manipulated in the budget but he does know when his individual earning is increased.
I am very much disappointed after understanding the fact that subsidy from electricity, oil and gas has been taken back by the government. Instead giving relief to the poor, the sitting government has increased the pressure on common man.
Though Federal Finance Adviser made the budget for the nation but I am confident that he cannot make the budget of a poor man in the country whose minimum drawn salary is Rs.6000/- per month and that too was announced on the day when the Prime Minister took the oath.
I don’t see that it was necessary for the government to raise the Capital Value Tax (CVT) from 2% to 4% on the sale and transfer of properties, whereas under the present circumstances and the prevailing law and order situation in the country, people have literally stopped investing in the properties.
Why the government did not impose tax on the agriculture sector? The simple reason one understand that no government whether military or civilian can impose agriculture tax, to keep the Jageerdars and Waderas happy.
The slogan of the present government is to provide Roti, Kapra aur Makan to the poor people of Pakistan, but practically its actions are far from its slogans and manifesto.
The growing economic pressure on a common man will lead to many crimes and social injustice from where people make up their minds for the change. People of Pakistan do not want any more lip service, they need a change which should bring change in their lives and bring prosperity for the poor.
Beggars budget. Beg,borrow,steal and squeeze the ninety percent poor with higher utility bills,costs of daily bare essentials. Every vegetable now costs around RS40.per kilo.
Richman will rule the roost and poor will be roasted by the officials false,empty speeches. Why increase the salary and pension of corrupt government officials
burden the poor man with more taxes. Fifty pct of PSDP is eaten in corruption.Buget is enemy of poor and richmen paradise. A fraud for poor and country.
Hopeless for poor. Poor are now made beggars out of their own money.
No ‘bijli,no pani,no roti,no taleem’ but only politicising budget with empty promises.
The Mughals financed themselves mainly with land revenue (and tribute?).
According to one source, the Victorian imperials in India derived around 40 percent of income from land assessments: at the end of the nineteenth century, land revenue generated 210 million rupees for the Raj; customs, excise, and stamps 140 million; the salt tax 75 million; and opium sales 40 million.
Principal expenditures at the same time were 244 million rupees to operate the army; 140 million for administration; and for public works a mere 68 million.
Hard nowadays to contrive a sensible fiscal scheme, what with political and military upheaval, eh?
its wonderful,people in swat are dying because of hunger and pakistan government has just given handful for them,and instead increased in defence budget people of pakistan dont need arms to eat they need clean water,electricity,food,and social security
wake people of pakistan its now or never.