Federal budget worth Rs 8487 billion for the fiscal year 2021-22 to be presented today (Friday).
As per the budget documents obtained by Dunya News, tax revenue target for Fiscal Year 2021-22 will be around Rs 5829 billion whereas non tax revenue target is expected to be around Rs 2080 billion. Total revenue target for FY22 would be around Rs 7909 billion.
According to National Finance Commission (NFC) distribution, provinces will get Rs 3412 billion in the budget. Fiscal deficit for FY22 is expected to be around Rs 3990 billion. Government expects to set debt and interest payment target of Rs 3060 billion for Fiscal Year 2021-22.
According to the documents, civil and military pension spending will be around Rs 480 billion. Subsidies worth Rs 682 billion will be given to different sectors in the upcoming budget. Around Rs 100 billion are expected to be allocated to combat coronavirus pandemic in the FY22 budget. Salaries volume for FY22 would be around Rs 160 billion.