In the budget of the new financial year, it has been decided to increase the development budget of the federation and the provinces by 1000 billion rupees.
The economic survey of the current financial year is being presented today, according to the announcement in this regard, the economic growth target for the next financial year has been set at 3.6 percent, the target for the development of the agricultural sector has been set at 2 percent, while the industrial sector has been set at 2 percent. The growth target of 4.4% and the growth rate of major industries has been set at 3.5%.
According to the announcement, the services sector growth target has been set at 4.1 percent and gross investment target at 14.2 percent of GDP, the average inflation target for the next financial year has been set at 12 percent.
According to the budget document, for the new financial year, the federation and the provinces will spend 3792 billion rupees on joint development projects, which is 1012 billion rupees more than the current fiscal year. That the annual development plan of the four provinces has been set at 2095 billion rupees from an increase of 462 billion rupees.
According to the documents, Sindh province will spend the most 764 billion rupees on development projects, Punjab 700 billion rupees, Khyber Pakhtunkhwa 351 billion while Balochistan has allocated a development budget of 281 billion rupees.
