2012 National Budget of the Philippines free essay sample

The Social Services sector, which provides benefits and facilities such as education, food subsidies, health care, and subsidized housing, will receive P568. 6 billion or 31. 3 percent of the total budget. This include the Conditional Cash Transfer (CCT) program of the Department of Social Welfare and Development (DSWD). Per department, the Department of Education (DepEd) got the biggest slice of the budget at P238. 8 billion that would include allocation for the hiring of 13,000 new school teachers and construction and refurbishing of more than 43,000 classrooms. The 2012 budget for education is 15. 2 percent higher than last year’s P207. 3 billion. Next is the Department of Public Works and Highways (DPWH), P125. 7 billion; Department of National Defense (DND), P108. 1 billion; Department of the Interior and Local Government (DILG), at P99. 8 billion; and the Department of Agriculture (DA), P53. 3-billion. Aquino said P140 billion worth of infrastructure projects will be implemented in January next year, adding that projects under the 2011 will still be fast-tracked. We will write a custom essay sample on 2012 National Budget of the Philippines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page President Aquino thanked members of the legislature and government agencies, citing in particular the Department of Budget and Management (DBM), for working hand-in-hand for the early signing of the 2012 national budget. He also noted that the Executive branch submitted its proposed 2012 national budget a day after his State-of-the-Nation Address (SoNA) in July. â€Å"Tinitiyak nating maaring ipagpatuloy ang mga repormang nasimulan na natin. Bawat piso ng pamahalaan ay napapakinabangan,† Aquino said. [We can assure you that we would be able to carry on with the reforms we have started. Each peso from the government will be used effectively. ] Budget Secretary Florencio Abad said six items were vetoed by President Aquino, particularly mentioning the imposition of a ceiling on public sector indebtedness which could have forced the government to constrict spending, particularly on critical social services and infrastructure. The public sector debt as of 2010 was already at 73. 3 percent of the gross domestic product (GDP) and is beyond the 60 percent debt cap provision included by Congress in the General Appropriations bill.