Azad Kashmir’s tax-free budget of Rs 141.40 billion will be presented today. Finance Minister Najib Naqi will present the budget for the financial year 20-2021.
Azad Jammu & Kashmir Budget 20-2021
Rs 113.40 billion is likely to be allocated for non-development expenditure, Rs 28 billion will be spent on development expenditure, the development budget proposes a 14 percent increase in salaries of employees over the previous financial year.
The budget is likely to allocate Rs 1.75 billion for health, Rs 3.20 billion for education, Rs 10 billion for communications, and Rs 4.80 billion for physical planning and housing.
The ruling party in Azad Kashmir, PML-N, will present its final budget in the Legislative Assembly. The budget proposes to allocate a maximum of Rs. 10 billion for the transport and communication sector. A capital divisional development package of Rs. 2.5 billion is being introduced under which Muzaffarabad, Rawalpindi, and Mirpur will be made model cities.
In the next budget, the funds for the Prime Minister’s Community Infrastructure Program have been reduced by 50 percent. In the budget, funds have been allocated for the establishment of a 200-bed hospital and trauma center in Muzaffarabad.
A Tourism Development Authority will also be set up to promote tourism, and a 22-megawatt Jagran Four project will be launched to boost power generation.