Federal Minster for Industries Hammad Azhar presented the budget 2020-21 on Friday 

Speaking at the floor of National Assembly of Pakistan, Federal Minister said that the target was kept at Rs 4.94 trillion for coming year while defence allocations amounted to around Rs 1.3 trillion. The federal development program was budgeted at Rs 650 Billion to support the growth prospects in the country


 

Federal minister said that the government's top two priorities have been fighting corruption, ensuring accountability, limpidity and transparency in state institutions and merit-based decision making at every level 

Federal Minister highlighted some of the major achievements and accomplishments of the government in the outward fiscal year, indicating to a 72% decline in the current account deficit, which is currently under $3 billion. he said

 

"Our main aim is to recover and restore the economy and stabilize and strengthen the Islamic Republic of Pakistan as we understand the vision and aspirations of our founding fathers," Minister said.

 

Pakistan’s economy also took adversely hit due to the Lockdown, social distancing, short working hours and precautionary measures and it affected the economy.

In further details, the total expenditure of budget 2020-21 is Rs 7,294.9 billion. This size is 11% lower than the size of budget estimates 2019-20.

The resource availability during 2020-21 has been estimated at Rs 6,314.9 billion against Rs 4,917.2 billion in the budget estimates of 2019-20. 

The net revenue receipts for 2020-21 have been estimated at Rs 3,699.5 billion indicating an increase of 6.7% over the budget estimates of 2019-20. 

The provincial share in federal taxes is estimated at Rs 2,873.7 billion during 2020-21, which is 11.7% lower than the budget estimates for 2019-20. 

The net capital receipts for 2020-21 have been estimated at Rs 1,463.2 billion against the budget estimates of Rs 831.7 billion in 2019-20 reflecting an increase of 75.93%.

The overall spending during 2020-21 has been estimated at Rs 7,294.9 billion, out of which the current expenditure is Rs 6,345 billion. 

The development expenditure outside psdp has been estimated at Rs 70.0 billion in the budget 2020-21. Completed details can be checked on website.