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Basic model of federal budget 2021-22 emerged

Basic model of federal budget 2021-22 emerged
June 3, 2021

ISLAMABAD (92 News) - The basic model of the federal budget 2021-22 has been emerged on Thursday.

According to the reports, the main targets of the budget strategy will be budget relief and investment. "Balance in food prices and increase in tax revenue are also important targets of the budget."

It was also reported that the target of raising taxes will be important on the basis of GDP growth. The plan has been set to achieve the tax target with 4 per cent GDP growth and 8 per cent inflation.

Relief goals will be achieved by raising the minimum wage, salaries and agricultural support price.

A day earlier, the total outlay of the federal budget is estimated at Rs8400, with a recommendation of upto 10 to 15 per cent increase in salaries of the government employees.

According to the sources, the federal budget 2021-22 having a total outlay estimated at Rs8.4 trillion will be presented before the National Assembly on June 11.

It was also reported that it has been recommended in the budget that no new taxes should be imposed on salaries person. The sources also said that the defence budget is estimated at over Rs1300 billion for the next fiscal year.

Meanwhile, the federal government is likely to earmark a whopping Rs100 billion for the Kamyab Jawan Programme in the upcoming budget for the fiscal year 2021-22.