Sunday, September 19, 2021  | 11 Safar, 1443
Samaa TV
Facebook Twitter Youtube
HOME > Money

Government sets 2.1% economic growth target amid serious challenges

Allocates Rs1.32tr budget for national development programme

SAMAA | - Posted: Jun 12, 2020 | Last Updated: 1 year ago
SAMAA |
Posted: Jun 12, 2020 | Last Updated: 1 year ago

A laborer bakes bricks in Ali Pur Fraash, Islamabad. Photo: Online

The government has set a target to grow the GDP by 2.1%, which will be a big challenge for the country to achieve in the backdrop of the ongoing COVID-19 pandemic, locust attack and first economic contraction in 68 years.

A budget of Rs1,324 billion has been allocated for the national development programme – with Rs650 billion expected to be spent on the Public Sector Development Programme (PSDP) and Rs674 billion for the Annual Development Programme (ADP), which the provinces spend. Rs477 billion has been allocated for 698 old projects in the PSDP.

The health sector is set to receive Rs14.5 billion in the new budget while Rs29.5 billion has been allocated for the Higher Education Commission.

In the new budget, federal ministries will receive Rs418 billion. Meanwhile, a proposal has been made to allocate a Rs4.5 billion development budget for education while another proposal has been made to reserve Rs5 billion for climate change.

Another Rs24 billion each for parliament schemes and the Pakistan Railways will be allocated in the upcoming financial year budget.

A development budget of Rs118 billion has been allocated for the NHA. Last year, Rs155 billion was set aside for road construction.

FaceBook WhatsApp
 
HOME  
 
 

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp
 

 
 
 

MOST READ
MOST READ
Will the State Bank increase interest rates this time?
 
 
 
 
 
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp