Govt to present Budget 2021-22 with growth rate target of 4.8pc
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The Federal Budget 2021-22 with the growth rate target of 4.8 percent will be presented in the National Assembly on Friday, reported 24News HD TV channel.
The agriculture and industrial production growth target has been set at 3.5 and 6.5 percent respectively. The services and manufacturing growth targets have been set at 4.7 and 6.2 percent respectively. 8 percent inflation rate has been targeted while the overall investment growth is set at 16 percent. The national saving target has been set at 15.3 while the budget deficit is set at 6 percent.
The government has set a target of exports and imports at 26.80 and 55.30 billion US dollars respectively. The trade deficit target has been set at Rs28.5 billion. FBR proposed to set the tax collection target at Rs5829 billion.
The government has set the current account deficit target at Rs2.3 billion as well as the remittance target at Rs31.3 billion. It is proposed to allocate Rs3105 billion for interest payments and Rs994 billion in terms of grants. The government proposed to allocate Rs501 billion for subsidies. The provincial surplus budget target has been set at Rs440 billion. It is proposed to allocate a total of Rs8056 billion for federal expenditures while an allocation of Rs1330 billion for defense has been proposed.