Rs6 trillion budget likely for next fiscal
Last updated on: 29 May,2019 01:51 pm
Sources said that the non-tax income in the budget is expected to be more than Rs1150 billion.
ISLAMABAD (Dunya News) – The proposed budget strategy paper estimated the next year’s federal current expenditure at more than Rs6 trillion, following which the federal expenses are expected to reach Rs4 trillion.
According to Dunya News, the federal government is anticipated to spend Rs925 billion on development projects.
Besides, the GDP growth is expected to be more than Rs40 trillion in the next fiscal year and the deficit could be more than Rs2,350 billion.
According to sources, Rs2,100 billion from the budget will be spent on interest and debt payments. The volume of subsidies in the next budget can be kept at more than Rs260 billion.
Moreover, the federal government has set a target of Rs5,500 billion in tax revenue. Out of the total tax revenue, Rs3,160 billion will be transferred to the provinces.
Sources said that the non-tax income in the budget is expected to be more than Rs1150 billion.