Islamabad: The government is all set to present the Financial Budget 2020-21 today (Friday) in the National Assembly (NA), a news source reported. According to details, the budget is expected to have an outlay of PKR 7.5 trillion.
As per official sources, the NA session is already underway, during which the Financial Budget 2020-21 will be presented. The sources added that the government has prepared the budget in light of the impact of the COVID-19 pandemic – focusing on relieving the public’s sufferings and uplifting businesses.
The sources concerned have stated that the Financial Budget 2020-21 would include:
fiscal management
revenue mobilization
economic stabilization & growth measures
social sector development
governance reforms
boosting private sector investment
The incumbent government will also focus on reducing non-development expenditures, enhancing exports, job creation, and people-friendly policies for the socioeconomic uplift of the country. Earlier, the government had revealed that it would introduce no new taxes in the budget for Financial Year (FY) 2020-21. However, official sources said that the government plans to introduce measures for improved tax collection, broadening the tax base, and facilitating the taxpayers.
