ISLAMABAD: The federal budget worth Rs 8000 billion for the fiscal year 2021-22 will be presented today. According to the budget document, the size of the economy will reach Rs 52,057 billion. The economic growth rate will be 4.8 per cent in the upcoming budget.
Rs 3,060 billion of the budget 2021-22 will be spent on loans and interest. The budget deficit is expected to be Rs 2915 billion.
According to the budget documents, Rs 900 billion will be allocated for the annual development programme. The development budget of the provinces will be around Rs 1000 billion.
Around Rs 530 billion are expected to be allocated for subsidies. The defense budget is expected to be more than Rs 1,400 billion. In the upcoming budget 2021-22, tax revenue is expected to be Rs 5820 billion. Non-tax revenue is expected to be around Rs 1420 billion in the budget.
The federal government has proposed Rs 900 billion for the development budget for the fiscal year 2021-22.
According to the budget document, federal ministries will be given development budget of Rs 672 billion whereas the Aviation Division will receive development budget of Rs 4 billion 29 crore.
As per the documents, the Cabinet Division will receive a development budget of Rs 56.02 billion whereas Rs 14 billion have been allocated for the climate change development.
Commerce Division will receive a development budget of Rs 300 million while development budget of Rs 9 billion has been fixed for the Ministry of Education and Training. The finance ministry will spend Rs 94 billion on development works.
