Islamabad, May 27 (IANS): Pakistan has finalised a budget of Rs.3.85 trillion for fiscal 2011-12, with Rs.495 billion being earmarked for defence, a media report said Friday.

Dawn reported that the budget for the fiscal beginning July 1 envisages a revenue of Rs.2.78 trillion and a fiscal deficit of Rs.912 billion.

The government has set a tax revenue target of Rs.2.1 trillion, which is 2.3 percent above the current year's revised target of Rs.1.71 trillion, documents show.

Of the total revenue of Rs.2.787 trillion, the provinces would get Rs1.22 trillion and Rs.1.51 trillion would be for the federal government.

The centre's expenditure has been pegged at Rs.2.54 trillion.

The media report said that the government would earmark Rs.495 billion for defence, which is about 12 percent more than current year's allocation of Rs.442 billion.

Besides that, another Rs.340 billion would be made available through grants for security expenditure.

The total security-related expenditure would amount to Rs.835 billion against the current year's Rs.727 billion.