Ishaq Dar to unveil Rs 4.5tr budget for FY2016-17

ISLAMABAD (92 News) – Federal budget of over Rs 4.5 trillion for next fiscal year will be presented in the National Assembly today (Friday). Finance Minister Ishaq Dar will present the budgetary proposals in the parliament, which is scheduled to meet at 5pm. He will lay the supplementary demands for grants and appropriation for the next fiscal year, and will introduce a bill to give approval to the financial proposals of the federal government. Senate session will also be held at 7:30pm. The finance minister will lay a copy of the Finance Bill 2016 before the Upper House. The Senate may make recommendations to the National Assembly on the Bill. In a statement, Ishaq Dar said the budget will be growth oriented with a focus on the agriculture sector in the light of Prime Minister Nawaz Sharif's instructions. Annual budget outlay is expected to be around Rs 4.5 trillion ($42.04 billion), with a fiscal deficit target of around 3.8 percent.