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GDB Oppening Date Tuesday, June 25, 2013 Closing Date Thursday, June 27, 2013

The Case:

Pakistan is one of the developing countries in Asia. Its economy is suffering from high inflation and unemployment from the last few years. According to budget 2013-2014:

Ø  Prime Minister’s house expenditures has been decreased by up to 45%

Ø  Rs. 3 billion has been earmarked for PM’s laptop scheme

Ø  During a one year training program, youth below the age of 25 and holds a masters degree will receive a stipend of Rs.10,000 per month

Ø  Rs.340 billion has been allocated for development projects

Ø  Rs. 8 billion for social welfare

Ø  Salaries and pensions have been raised by 10%

Ø  Minimum pension has been raised from Rs.3000 to Rs.5000 (approximately 67% increment)

Ø  General Sales Tax (GST) has been increased from 16% to 17%

 

 

Requirement:

Keeping in view the budget estimates, discuss whether this budget will be helpful in solving the problems of unemployment and inflation, or not?

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Replies to This Discussion

salam  Nida can u send me ur own solution of this gdb plz 

Well increase in taxes will be a great burden on the general public.Many positive measures like decreaseing the president's expenses etc are taken which is a good sign but to tackle the current situation of the country's economy is not possible in near future.I think unemployment and inflation will rise.

Superb Discussion But  I wana say some thing here if we see this it positively as some economist in the world and in pakistan both are agree that it is Good budget and it is indication that government showing non reluctant policy on foreign states and that is why the only way of revenue is tax and govt indicate that we will come up with tax policy according to new monetarist policy it is the forst step to words the good way and will benefit in longterm that is why it is although Good policy and keeping the interest rate low automaticaly increase the investment so may business cycle run and unemployment ratio will decrease, as in this budget intererst rate is decreased. So it is Good budget according to several anaylst beacuse you do not have any window more further so keep this policy would be good.

As the prime minister expenses are reduced by 45% This seems to be good for the economy as the prices are saved and it also reduce the level of unemployment as the saving is spent on establishing new businesses and the unemployed are hired on it.
The laptop scheme also removes unemployment as for the making of laptop the software engineers are hired which then can increase employment chances. And the increase in GST is the cause of rapid inflation as we can see now a days. As tax is the way of collecting revenue so as a economist I must say that in the long run the tax will reduce the level of inflation and unemployment which is a key benefit of this budget.

I think your idea abt laptop scheme is not good

Cz laptops are not yet manufactured in Pakistan... they are just being purchased from china.... more people will be educated and more unemployment........

totally false 

tu pher thek kia ha wo bta do malik sb 

yar koi file send kr do solved

any idea plzzz

Government’s own expenditures were slashed including splurges of ministries by a considerable amount.

All the secret and discretionary funds were abolished. This closes a huge door of corruption and wastage of public money

This budget is not a poor and people friendly and that is a good thing. This is emergency friendly. We as a nation must understand now that luxury is no more there and until and unless we don’t pay taxes and correct our life styles, we are not going to get things for granted. Government doesn’t have money of its own, it works on the taxes paid by the people. So pay taxes, and then we can exercise our right to ask for basic necessities from the government

There is no any doubt if the federal government will reduce its expenses like prim minister house expenses then it could be use to some other projects and unemployment problem can be solved much than before. And if there is demand to pull inflation than the government should charge higher amount of taxes and also felicitate more with the help of subsidies to firms by which they could meet up the problems of excessive demand and cost problem. This will surely help to solve the inflation problem in Pakistan and the most important thing here is which I would like to discuss that every analyst has its own view, but majority of economist in the world and in Pakistan both are agree that it is Good budget and it is indication that government showing non reluctant policy on foreign states and that is why the only way of revenue is tax and got indicate that we will come up with tax policy according to new monetarist policy it is the forts step to words the good way and will benefit in long-term that is why it is although Good policy and keeping the interest rate low automatically increase the investment so may business cycle run and unemployment ratio will decrease, as in this budget interest rate is decreased. So it is Good budget according to several analyst because you do not have any window more further so keep this policy would be good.

Well increase in taxes will be a great burden on the general public. Many positive measures like decreasing the president's expenses etc are taken which is a good sign but to tackle the current situation of the country's economy is not possible in near future. I think unemployment and inflation will rise and in this way Government’s own expenditures were slashed including splurges of ministries by a considerable amount.

Lastly in my opinion this budget is not a poor and people friendly and that is a good thing. This is emergency friendly. We as a nation must understand now that luxury is no more there and until and unless we don’t pay taxes and correct our life styles, we are not going to get things for granted. Government doesn’t have money of its own; it works on the taxes paid by the people. So pay taxes, and then we can exercise our right to ask for basic necessities from the government

 

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