ISLAMABAD: Hammad Azhar, Federal Minister for Industries and Production, on Friday presented budget 2020/2021 on floor of house claiming to be a corona-hit budget with no new tax.
The budget 2020/2021 has the following salient features:
The total outlay of budget 2020/2021 is Rs7295 billion. The size is 11 percent lower than the size of budget estimates 2019/2020.
The budget deficit has been estimated at Rs3,195 billion or 7 percent of the GDP for next fiscal year starting July 01, 2020.
The net federal revenue has been estimated at Rs3,700 billion and total expenditures has been estimated at Rs7,136 billion. While it is estimated at the provinces would provide Rs242 billion surplus.
The resources availability during next fiscal year has been estimated at Rs6,315 billion against Rs4,917 billion in the budget estimates of 2019/2020.
The net revenue receipts for 2020/2021 have been estimated at Rs3,699 billion indicating an increase of 6.7 percent over the budget estimates of 2019/2020
The provincial share in the federal taxes is estimated at Rs2,873.7 billion during the next fiscal year, which is 11.7 percent lower than the budget estimates for 2019/2020.
The net capital receipts for 2020/2021have been estimated at Rs1,463 billion against the budget estimates of Rs831 billion in 2019/2020 reflecting an increase of 75.93 percent.
The external receipts in 2020/2021 are estimated at Rs2,222.9 billion. This shows a decrease of 26.7 percent over the budget estimates for 2019/2020.
The overall expenditure during 2020/2021 has been estimated at Rs7,295 billion, out of which the current expenditure is Rs6,345 billion.
The develop expenditure outside PSDP has been estimated at Rs70 billion in the budget 2020/2021.