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The government will present a budget of Rs 8,400 billion today – IG News

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ISLAMABAD: The PTI government will present a budget of Rs 8,400 billion today. The target for tax collection in the budget has been set at more than Rs 5,800 billion.

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According to ARY News, Finance Minister Shaukat Tareen will present the budget for the next financial year today. The volume of the third budget of the government has been set at Rs 8,400 billion. Rs 1330 billion will be set aside in the budget for defense.

According to sources, Rs 3,100 billion will be spent on interest payments. It is proposed to increase the salaries of government employees by 10 to 15 per cent.

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Sources said that the target for total investment in the financial year 2021-22 has been set at 16 per cent and GDP at 4.8 per cent.

The current account deficit target is set at ارب 2.3 billion, while the remittance target could be set at 31 31.3 billion.

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Read more: Economic survey report released, remittances set record, foreign exchange reserves reach ارب 16 billion

Sources said that Rs 994 billion has been proposed for grants and Rs 501 billion for subsidies and a target of 4.8 per cent of GDP has been proposed.

This year’s budget proposes an inflation target of 8%, a growth target of 6.8% for the industrial sector and a growth target of 6.2% for the manufacturing sector.

The budget proposes a target of 16% of total investment and 15.3% of national savings.

According to sources, the development budget will be Rs 2100 billion, the volume of PSDP will be Rs 900 billion, out of which Rs 244 billion will be transport and communication, Rs 118 billion energy, Rs 91 billion water resources, Rs 113 billion social sector, Rs 100 billion regional. Equality, Rs. 31 billion Science and Technology and IT sector. Rs 68 billion is planned to be spent on SDGs while Rs 17 billion is planned to be spent on production sector.

Funds of Rs. 54 billion have been allocated for the integrated areas. It has been proposed to set aside Rs 42 billion for the Higher Education Commission in the social sectors.

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