Budget to presented today

Islamabad-Finance Minister will present the federal budget today.
The National Assembly, already in session since May 23, will meet at the Parliament House on Friday at 1600 hours, after a daybreak, for the presentation of the federal budget.

The budget will lend further focus towards improvement in economic growth, maintaining fiscal discipline, reducing on-development expenditures and boosting exports besides providing relief to the masses, promoting investment for job creation, treading the people’s friendly policies for overarching socio-economic prosperity.

The key focus in the budget would be on infrastructure and human resource development while the government is likely to enhance allocations for the social safety net for providing maximum relief to the vulnerable segment of the society, sources said.

It would also focus on social sector development and revenue enhancement measures, besides introducing reforms for improving governance and boosting private sector investment.

On the revenue side, the government would introduce measures for bringing improvement in the system of tax collection, broadening the tax base, and facilitation to taxpayers, they said and argued that strong revenue generation will play a crucial role in achieving the targets for economic growth.

From the growth perspective, the federal budget would focus on generating 6% gross domestic product growth (GDP), and for this purpose, the government would introduce some fiscal measures and policy initiatives.

The National Economic Council (NEC) chaired by Prime Minister Muhammad Nawaz Sharif on May 19, had already approved the Gross Domestic Product (GDP) growth target at 6 percent for the financial year 2017-18 while the government achieved a GDP growth rate of 5.3percent in the outgoing fiscal year.

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