Budget 2020: Tax revenue target likely to be set at Rs 5100 bn

Budget 2020: Tax revenue target likely to be set at Rs 5100 bn

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Karachi: Tax revenue is expected to increase by 30% in the next fiscal year, and the tax target is likely to be set at Rs 500 crore, and the draft defense budget for next year may reach Rs 140.2 crore.

According to sources, the federal government is preparing for the next budget, and it is expected that tax revenue will increase by 30% in the next fiscal year, and the tax target is likely to be set at 51,000 crore.

According to sources, the tax collection and management system will be improved, and the inflation target for fiscal year 2021-22 may be set at 8.4%, and is considering a proposal to target the fiscal deficit at 5.8%.

According to sources, the debt ratio is planned to increase to 85% of GDP, and the current account deficit target may reach $ 4.6 billion. The proposal to allocate 140.2 billion rupees to the defense budget next year is also under consideration.

The source said that it is likely to allocate 495 billion rupees for government affairs and will provide incentives for the agriculture, information technology, construction and industrial sectors.

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