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Federal govt increases development budget by 36.4% for FY22

ISLAMABAD: With an increase of 36.4%, the federal government has proposed Rs900 billion for the development budget for the fiscal year 2021-22, ARY News reported on Friday.

According to the budget 2021-22 document, the annual development budget for Punjab has been fixed at Rs500 billion for the upcoming fiscal year 2021-22 after an increase of Rs190 billion.

The current fiscal year’s development budget is Rs310 billion. For Sindh, the development budget has been fixed at Rs321 billion for FY22 as compared to the current year’s Rs194 billion. The provincial budget for uplift schemes has been increased by Rs127 billion.

With an increase of Rs44 billion, the federal government has fixed Rs133 billion for Balochistan’s development. The development budget of Khyber Pakhtunkhwa (KP) has been decreased by Rs26 billion and has been fixed at Rs248 billion as compared to the current year’s budget for uplift schemes of Rs274 billion.

Read more: PM-led NEC sets economic growth rate target at 4.8 pc for FY22

The Pakistan Tehreek-e-Insaf (PTI) government is all set to unveil the federal budget 2021-22 with a total outlay of Rs8.4 trillion today.

Sources relayed that the federal government has proposed Rs1,330 billion defence allocation with Rs3,105 billion to be earmarked for interest payments. Gross domestic product (GDP) growth target has been set at 4.8 per cent in the budget 2021-22.

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