The government of Pakistan has announced to present the federal budget of Rs 8,000 billion worth for the fiscal year 2021-22 on June 11.
According to the budget document, the size of the economy will reach Rs 52,057 billion. The economic growth rate will be 4.8 per cent in the upcoming budget.
Moreover, Rs 3,060 billion of the budget 2021-22 will be spent on loans and interest. The budget deficit is expected to be Rs 2,915 billion.
According to the budget documents, Rs 900 billion will be allocated for the annual development program. The development budget of the provinces will be around Rs 1000 billion.
Around Rs 530 billion are expected to be allocated for subsidies. The defense budget is expected to be more than Rs 1,400 billion. In the upcoming budget 2021-22, tax revenue is expected to be Rs 5,820 billion.
It is pertinent to state here that non-tax revenue is expected to be around Rs 1,420 billion worth in the budget.