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There was a discrepancy in the total outlay figures contained in the budget speech of Finance Minister Dr Abdul Hafeez Sheikh and budget documents - former stating an outlay of Rs 1504 billion for the next fiscal year while the latter putting it as Rs 1667 billion.

The 2010-11 budget documents note internal resources for the current year as 2211 billion rupees, however documents gave the figure of 1870 billion rupees. The forthcoming fiscal year, the budget document maintains, would generate 2049 billion rupees internal resources.

The budget in brief stated that "the total outlay of budget 2011-12 is Rs 2767 billion. This size is14.2 percent higher than the size of budget estimated for 2010-11. The net revenue receipts for 2011-12 have been estimated at Rs 1529 billion, indicating an increase of 11 percent over the budget estimates of 2010-11.

The budget speech made by Finance Minister Dr Abdul Hafeez Sheikh stated "federal budgetary outlay is proposed at Rs 2,504 billion, which is 12.3 percent higher than current year's outlay and total federal revenues are projected at Rs 1529 billion."

Copyright Business Recorder, 2011

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