News
Friday, June 04, 2010
Budget on Saturday
ISLAMABAD: The federal budget for the fiscal year 2010-11, envisaging relief measures for the masses and initiating new strategies for accelerating the pace of economic development, will be presented in the National Assembly on Saturday (tomorrow).
This would be the first-ever budget after the National Finance Commission Award and the 18th Constitutional Amendment, which would enable the provinces to get more resources.
Adviser to Prime Minister on Finance and Economic Affairs, Senator Dr Abdul Hafeez Shaikh – who is likely to take oath as Finance Minister today – would present the budget before the National Assembly, sources in the ministry told APP.
The consolidated outlay of the next year budget is likely to be about Rs 2.4 trillion whereas revenue target is estimated at about Rs. 1.7 trillion.
The budget will have special focus on agriculture, infrastructure, social sector development and revenue collection.
Amid domestic and international challenges, the realistic Gross Domestic Product (GDP) growth target would be 4.5 percent, while in the outgoing fiscal year 4.1 percent GDP growth has been achieved.
This year, the budget will focus on infrastructure, human capital and social sector development, poverty reduction, promotion of investments and exports, agriculture sector development, enhancement of revenues and provision of relief in terms of a safety network to the poor section of society.
The government is keen to provide relief to the people in the next budget and has taken comprehensive measures to achieve this objective. app
Courtesy www.dailytimes.com.pk