ISLAMABAD: Newly-appointed Finance Minister Miftah Ismail is presenting the federal budget for the fiscal year 2018-19. The estimated outlay of the budget is Rs5.5 trillion as against Rs4.75 trillion for the outgoing year.
According to the budget estimates, the target of tax collection for the next financial year is being fixed at Rs4450 billion, with the estimated 15 per cent increase.
It is learnt that the cumulative size of the federal Public-Sector Development Programme (PSDP) and provincial Annual Development Programmes (ADPs) would be Rs2.043 trillion, including Rs1.030 trillion federal PSDP and Rs1.013 trillion provincial ADPs.
Read: Major highlights of the last budget 2017-18
Miftah, Adviser to Prime Minister on Financial Affairs, was appointed as Federal Finance Minister couple of hours before the budget.
More to follow
Here are the expected features of the budget 2018-19
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The outlay of the budget will be Rs5.5 trillion
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The tax revenue target will be set at Rs4.435 trillion
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Real GDP target is likely to be set at 6 per cent for the next year
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The fiscal deficit is expected to be Rs2,029 billion
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Inflation rate will be contained below 6 percent
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The exports target for next year is likely to be set at Rs27.30 billion.
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The defence budget is expected to be Rs1.050 trillion
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Salaries and pensions of employees are likely to be increased by 10 per cent.
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A hefty amount of Rs220 billion will be earmarked for subsides on power, textile, water, construction of small dams.
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The federal expenditure has been set at Rs1010 billion while the provincial at Rs1030.
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The budget for development projects will be Rs201 billion.
Government allocations over the last five years
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