ISLAMABAD: The Finance Minister Ishaq Dar presented a federal budget 2014-15 with a total outlay of Rs 3.945 trillion in the National Assembly today, ARY News reported.
In his speech, the finance minister said the direction of economy had been corrected with the policies of the government in a year.
Dar said that the economic growth rate of the country has increased to 4.14 percent, which is the best in the past six years.
Describing positive economic indicators Dar said that the per capita income of the country has increased to 1386 dollars per annum.
The finance minister also said that the inflation rate was contained at 8.6 percent in this year.
He further said that the fiscal deficit has been contained to 5.8 percent.
The government has proposed to levy 17% sales tax on Compressed Natural Gas (CNG).
The livestock sector growth rate has been fixed at 3.3 percent and the growth rate of agriculture sector fixed at three percent.
Federal budget proposes to contain the inflation rate at eight percent.
The finance minister said that the value of the rupee has been appreciated by 11 percent in comparison to dollar in last seven months.
Dar said that the government focuses on increase in trade, progress of private sector, developing infrastructure, no tax exemption, cut in government expenditure, providing relief to the poor.
He said the government has started multiple projects in order to end the energy crisis.
Dar tells his fellow MNAs that the industrial growth reached 5.84% in the outgoing year.
He said the Foreign exchange reserves have been increased to $13.50 billion dollar and will increase to $15 billion till the end of July.
Speaking about the boost of Stock Market, the Minister said KSE 100-Index has witnessed the progress of 45 per cent as per current status the index crossed 28000 points.
The government raised the National Income Support Programme to Rs.118 billion from Rs.75 billion.
Ishaq Dar informed that government has added 1700 Mega Watt of electricity in the national grid of the country.
To read the complete Budget Speech, click the following Budget speech 2014-15