Govt to present Rs 7,600 billion budget for 2020-21 on June 12

Govt to present Rs 7,600 billion budget for 2020-21 on June 12

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Islamabad: The federal budget for the fiscal year 2020-21 will be submitted on June 12, with a total expenditure of 7.6 trillion rupees.

The budget meeting of the National Assembly and the Senate will begin today to comply with the standard operating procedures (SOP) related to coronavirus. No one is allowed to enter the Capitol without wearing a mask.

Members and officials will have to pass a virus check. Members’ visitors and guests will be banned from entering the Capitol and the art gallery will be left empty. However, media representatives will be allowed to perform their functions. During the upcoming meeting, SOP will be strictly observed.

According to sources, the budget deficit may exceed Rs. 342.7 billion, and Rs. 323.5 billion will be used to pay interest and repay loans. In the upcoming budget, a defense appropriation of Rs 140.2 crore has also been proposed.

According to the budget document, the growth rate of the construction industry is set at 3.5%. The growth target of the energy sector is set at 1.4%, while the growth of the construction sector is set at 3.5%.

In the next financial year, the growth rate of the service industry is set at 2.8%, while the growth target for development is set at 2.3.

The agricultural target for the next fiscal year is set at 2.9%, and the main crop target for the next financial year is set at 2.2%. The cotton growth target is set at 1.3%.

The industry growth target is set at 0.1%, while the manufacturing growth target is set at negative 0.7%. The mineral growth target for the next fiscal year is set at 0.5%.

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