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Posted Date: 20th June, 2012 Last updated at 00:00 PST

A tax free budget of Azad Kashmir for the next fiscal amounting to over forty-nine billion rupees was announced on Wednesday.

The AJK Finance Minister Chaudhayr Pervaiz Ashraf presented the budget at the AJK Legislative Assembly in Muzaffarabad.

The budget provides the development outlay of over nine billion rupees showing fifteen percent increase over the current fiscal year.

Non-development expenditure have been estimated over forty billion rupees against the revenue receipt of thirty-five billion rupees.

The deficit of over five billion rupees between the revenue receipt and the non-developmental expenditure would be met by the Federal Government.

Chaudhary Pervaiz Ashraf said budget lays solid foundation for socio-economic uplift of people and provision of basic amenities of life to accelerate the pace of developmental activities in Azad Jammu and Kashmir.

He announced the twenty percent increase in the salaries of the government employees of AJK and twenty percent increase in pension as announced by the Federal government.

AJK Finance Minister said that the Federal Ministry for Kashmir Affairs has allocated over two billion and forty six crore rupees for the completion of ongoing developmental projects.

The AJK Finance Minister said that Transport and communication sector has been given top priority in the budget with an allocation of over three billion and ninety one crore rupees.

An amount of one billion and thirteen crore rupees have been provided electricity sector to overcome the energy crisis. Solar energy system would be introduced in the remote area of Neelum Valley and Bagh district to provide electricity to the people.

The AJK Finance Minister said that the education Sector would get eighty eight (88) crore seventy lakh rupees during the next fiscal .Unified educational syllabus would be introduced.

Local government and rural development would get seventy seven crore rupees while physical planning and housing would get over seventy two crore rupees.

In Health sector‚ over fifty eight crore rupees have been earmarked. Basic health units‚ cardiac centers and new rural health centers would be set up at Mang in district Sudhnuti and Sarsawa in Kotli districts. One hundred bed child and maternal hospital would be set up at Rawalakot.

The Finance Minister announced to introduce Rozgar scheme and Green cap transport scheme to provide honourable livlihood to the people. He also announced ten crore rupees for the Jammu and Kashmir refugees.

The Finance Minister also laid before the house the revised budget estimates for the current fiscal years before the house.