National Economic Council approves 1514 Rs for development budget
CM, finance ministers of all provinces, CM of Gilgit Baltistan, PM of AJK participated in meeting
ISLAMABAD (Dunya News) – National Economic Council (NEC) approved 1514 rupees for development fund on Monday. Chief Ministers (CM) and Finance Ministers of all four provinces, CM of Gilgit Baltistan and Prime Minister (PM) of Azad Kashmir participated in the meeting of NEC. National Minister for Planning briefed the meeting about Annual Development Program and the economic targets for next year.
PM Nawaz Sharif approved the increase of 120 Billion rupees in Federal Development Program and made it 700 Billion rupees. 814 Billion rupees were approved for annual development program for provinces. According to the documents, the target of growth rate in the next year is decided to be 5.5 percent. While the target of growth rate in agriculture is 3.9, industrial growth 6.4 and the target of growth rate in the field of manufacturing is decided to be6.1%.
The growth rate in the live stock has been decided to be 4.1, transport as 6.1 and the target of growth rate for whole-sale and trade is decided to be 5.5%. The target of growth in the field of construction has been decided to be 8.5% while 6% for electricity and gas. According to the working papers, in the next fiscal year the inflation rate is expected to be 6% while the target of national saving is 16.8%. The target of per capita income is 1 lac, 67915 rupees.
In the budget of 2015-16 fiscal year, the target of national saving has been decided to be 5 thousand, 144 billion rupees while the division of money will be 12%. The target of exports is 25 billion, 500 million dollars, which is 5.5% larger than the current year. The target of imports is 40 billion, 800 million dollars while the volume of trade deficit will be 17 billion, 700 million dollars.
