ISLAMABAD - Federal Minister for Information and Broadcasting Qamar Zaman Kaira Wednesday said that Cabinet meeting chaired by Prime Minister Syed Yousuf Raza Gilani had given approval to five per cent employment quota for minorities in all federal departments, issuance of fresh currency note of Rs 500 and allowing OGDC for more drilling for the exploration of oil and gas. The Minister said that President Asif Ali Zardari had also approved aid for 125,000 IDPs families with Rs 25,000 for each family unit. He said the economic conditions had improved significantly despite global recession and war on terror. He said the Cabinet was informed by Advisor on Finance that it was because of the bitter and difficult decisions taken by the elected government that fiscal deficit had come down from 7.4 per cent to 4.3 per cent, current account deficit from 8.4 per cent to 5.3 per cent of the GDP and inflation had reduced from 25 per cent in August last year to 19.1 per cent in March 2009. He said the foreign exchange reserves that stood at $3.4 billion in October last had increased to $7 billions and the target of $12 billion was expected to be achieved by the end of the current fiscal year. He hoped single digit inflation by the end of this year. Kaira in his maiden briefing on Cabinet meeting here at Press Information Department informed media persons that government had taken solid steps for bringing improvement in economy. Government had finished some unnecessary subsidies, he further said and added that due to the tough decisions, inflation had decreased. Kaira said that growth rate, presently about 2.5 per cent, was the governments real concern. But we must understand that global economic situation and war on terror have affected us. But this time we have a bumper crop and it will help the economy, he said. The Cabinet was informed that tax collection was expected to be around 1.25 trillion rupees in the current fiscal year in view of cut in imports that resulted into revenue losses. He said with the passage of time tax to GDP ratio would be increased from 9.6 per cent to 13.5 per cent by increasing the tax net. He said other sectors including real estate, stock market, agriculture and services would gradually be brought into tax net. He said that President and Prime Minister had visited various countries in the world and Friends of Pakistan were also helping. If we get opening for exports which we are hopeful to get, growth rate will improve consequently, he said. He said that government was trying its best to improve the growth rate on fast track, and said that likewise interest rates are decreasing, which would help the industrialists. He said that government was also checking over the dumping done by foreign investors. The government effort is that exports should bridge our trade deficit and we are hopeful to achieve our trade deficit target, he maintained. The Federal Minister said that government had completed registration of around 1.9 million internally displaced persons. Kaira said that donor conference would be held today (Thursday) with Prime Minister Gilani in chair. While the donation collected in the donor conference would be spent via World Food Programme. The government will monitor it only. Some 15,000 coolers would be purchased to provide relief to IDPs in camps from the intensive heat, he added. He said allocation for Benazir Income Support Programme would hopefully be doubled from the existing Rs 34 billion to alleviate poverty.