Federal Budget 2020-21 Pakistan

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(مالی سال 2020-21 وفاقی بجٹ)The budget for 2020-21 is good news for government employees who expect a 20% increase in their basic pay. Adviser to the Prime Minister on Finance Abdul Hafeez Sheikh will present the Federal budget 2020-21 on 12th June 2020 The Federal government of Pakistan will announce the federal budget for the financial year 2020-21 in the National Assembly on June 12, 2020.

Federal Budget 2020-21 Pakistan

Federal Budget 2020-21 Pakistan

The 2020-21 budget focuses on ensuring economic stabilization, undertaking projects which create jobs, and providing economic stimulus for sustainable growth the spokesperson for Finance Division, Dr. Khaqan Hassan Najeeb, said.

The government will not be borrowing from the central bank to tackle budget deficit as it fuels inflation. Azhar underscored that the government’s aim was to shift the burden from the common man. budget date 2020-21 announced.

The federal government has set minimum salaries 17 thousand 500, adding that the increase will be on the salary released from 2017. Five thousand rupees to 2,000 cc vehicles, one thousand one CC to 2 ccs, while duty on more than 2,000 cc duty has been imposed by seven and a half percent.

Govt employee Salary increase in Budget 2020-21

Most of the developing countries used the fiscal policy tool to stabilize the economy. The fiscal policy help to attain economic growth, a higher level of employment, and break down poverty. The most dominant policy objective remains to achieve employment and decrease inflation. However, the objective of fiscal policy is usually inclined toward high growth and increase employment at any cost of inflation. Moreover, this study investigates the fiscal policy impact on output, GDP, interest rate, taxes, government expenditure, inflation, and variables of investment employment.

Federal Budget for the fiscal year 2020-21:

Rs20 billion and Rs15 billion allocated to buy land for the Diamer and Bhasha, and Mohmand Dam respectively For the newly merged tribal districts, the government has set aside Rs152 billion. Another Rs35.5 billion has been set aside for a total of nine projects in Karachi.

Azhar said the government empowered the State Bank of Pakistan. “We created the Single Account Treasury, launched the Billion Tree Tsunami project. We made Federally Administered Tribal Areas part of Khyber Pakhtunkhwa.”

Budget 2020-21 Updates:

Pakistan budget to be presented for 2019-20 and date of budget 2020 June 12.

 

The Federal Board of Revenue has set a target of Rs5.5 trillion in the current fiscal year. Keeping in view that the Tax-to-Gross Domestic Product (GDP) ratio is significantly lower in the region; our focus is on increasing tax collection. Only two million people, including the salaried class, paid taxes. Pakistan health budget in 2020.

Pakistan’s latest budget proposal for 2020

budget 2020 Pakistan

budget 2020-21 salary increase

The Pay of Government Employees is increased 10% from BPS-1 to BPS-16 and Adhoc Allowance is also 10% increased in wafaqi budget 2020 21. The basic pay of Govt employees BPS 17 to 20 has increased by 5% and ad hoc allowed 5%. BPS 21 & 22 no increase in basic pay from expected budget 2020.

Pensions have been increased by 10%.

latest news salary increase in budget 2020-21

budget 2020 Pakistan

Ehsaan Programme:

 a new ration scheme will be introduced that will offer 80, 000 people interest-free loans every month. An old-age home scheme will be launched for senior citizens. The government will launch a ration card scheme for 1, 000, 000 people.

Sehat Sahulat Program: 3,200,000 families to be inducted in the first phase.

The government has allocated Rs33 billion for higher education.