On June 3rd 2014 Federal Finance Minister, Senator Ishaq Dar presented the budget with an outlay of Rs. 3.8 trillion ($39.3 billion) for fiscal year 2014-2015 in the presence of Prime Minister Nawaz Sharif. Revenue estimated for the FY 2014-2015 Rs. 3.943 trillion. Current expenditures estimations for FY 2014-2015 Rs. 3.130 trillion
According to Recardian Theory of Rent, land is not uniform is quality and as population rises more and more marginal land must come into use. The high cost of producing on the most marginal last will decide the price of grain. The better land yielding a high return must earn economic rent.
There were many difficulties and inconveniences in the barter system, around the globe there was a need for accepted medium of exchange. With the passage of time many other types of money emerged for the purpose of exchange. Under commodity money, a large number of goods served as money. As metals were available from early times and were durable, portable and easily divisible therefore it got rapid popularity.
A system in which goods and services are directly exchanged for other goods without the use of money is called barter system. In other words it is the direct exchange of goods for goods. According to Prof Standy, barter economy is such an economy in which there is no use of a generally acceptable medium of exchange
Control on Money Supply. The central bank being the note issuing authority enjoys full powers to control the money supply injected through excessive credit creation. For the purpose it applies different instruments to control it. The instruments by which the central hank controls the money supply rate.
Following are the causes of inflation Increase in quantity of money, government expenditures & consumer's disposable income, oil prices, deficit financing, decline in production, devaluation in currency, increase in population, black money, excessive profit
By inflation we mean rising of prices but on the other hand it is also a reduction in the value of money. The reduction in the value of money affects the entire economy. When the price level tends upward the investment attitude flourish among the businessmen with the aim to earn more profit.
On Monday 17, 2013, the newly formed Government of Khyber Pakhtunkhwa presented their first budget of Rs. 344 billion for the fiscal year 2013-14. During the budget presentation Finance Minister of KPK Siraj Ul Haq said that priorities of KPK Government are elimination of corruption and good governance.