With Rs8tr outlay, PTI govt set to unveil budget for FY22 tomorrow

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government is all set to unveil the federal budget 2021-22 with a total outlay of Rs8 trillion tomorrow (Friday), reported ARY News.

Sources relayed that the government has proposed Rs1,330 bn defence allocation with Rs3,105 bn to be earmarked for interest payments. Gross domestic product (GDP) growth target has been set at 4.8 per cent in the budget 2021-22.

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The Federal Board of Revenue’s (FBR) tax collection target for the forthcoming fiscal year will be set at Rs5,829 bn, they said, adding the government has projected export target at $26.80 bn while import at $55.30 bn.

The government will pitch the current account deficit target at $2.30 bn in the budget 2021-22 while foreign remittances at $31.30 bn. It plans to earmark Rs994 bn for various grants while Rs501 bn for subsidies.

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The sources said inflection rate will be kept at 8 per cent for the FY 2021-22 while industrial growth at 6.8 per cent, large-scale manufacturing at 6.2 per cent, overall investment target at 16 per cent, and national savings at 15.3 per cent.

Federal Finance Minister Shaukat Tarin will unveil National Economic Survey for the outgoing fiscal year 2020-21 today.

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Pakistan Economic Survey will provide an overview of the national economy, highlighting performance and achievements in different sectors during the outgoing fiscal year. In a statement, the finance minister said the government is committed to present a pro-people, business-friendly and growth-oriented Federal Budget 2021-22 for the next fiscal year.

He expressed the determination to pursue an all-inclusive, sustained and robust economic growth through short, medium and long-term economic planning.

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