The Social Policy and Development Centre (SPDC) has a tradition of bringing out a Research Report every year containing analysis of the proposals for expenditure and taxation in the Federal Budget from the viewpoint of their impact on the economy and people of Pakistan. This year’s report contains 24 articles on various aspects of the Budget of 2000- 01, written by staff members of SPDC. We hope that government officials, private sector, members of NGOs and civil society at large will find this report useful in understanding the implications of the Budget.