ISLAMABAD: The federal government led by Nawaz Sharif’s PML-N is all poised to unveil its third annual budget with an outlay of over Rs 4 trillion for fiscal year 2015-16 before the Parliament today (Friday).
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.