Pakistan Federal Budget 2015 to 2016 Highlights. ISLAMABAD: Federal Finance Minister Ishaq Dar will present the federal budget with a size of Rs.4.272 trillion for the upcoming year at National Assembly this evening. The budget envisions the tax collection target at Rs.3.1 trillion. Rs.1.5 trillion worth of annual development program has been approved for the next fiscal year. Meantime, Rs.700 billion has been specified for federal development projects.
The provinces will be issued Rs.814 billion. Amount of Rs.194 billion has been put aside for Pak-Sino Economic Corridor. Rs.780 billion will be set aside for defence; Rs.1.31 trillion for debt-servicing and Rs.11.1 billion has been fixed to be spent on health. Higher Eductaion Commission will receive Rs.20 billion. Export target has been set at $25.5 billion with GDP growth target fixed at 5.5 percent.
The target of growth rate in agriculture has been set at 3.9 percent with production target in the industrial sector pegged at 6.1 percent. The federal budget also proposes to give ten percent (10%) raise in salaries of the government employees.
Federal Finance Minister Ishaq Dar on Friday uncovered the government budget plan for the financial year 2015 to 16 having a cost of over Rs4.2 trillion. As indicated by a duplicate copy of the ‘Budget in Brief’ report, an aggregate of Rs.1514 billion have been assigned for Public Sector Development Projects (PSDP), out of which Rs.700 billion have been put aside for government development tasks and the remaining Rs.814 billion for common improvement ventures.
Pakistan Federal Budget 2015 to 2016 Highlights
The formative spending plan of Baluchistan is Rs.45 billion. Khyber Pakhtunkhwa (KP) spending plan for development activities is Rs.124 billion. The formative budget plan of Sindh has been set of Rs.192 million. An aggregate of Rs.781 billion has been set for defence budget plan. Out of which Rs.900 million are allotted for defence production. An aggregate of Rs.1150 billion has been assigned for debt servicing both inner and outside. According to repoorts, the Govt. has set a 5.5 percent financial development focus for the year 2015-16. Trade gap stays at $17.70 billion, while the government is required to set a $43.30 billion import target.