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Budget 2020: No increase in the government employees Salaries. But there are few good news

Deciding not to increase the salaries of government employees, the cabinet approved the budget proposals

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The federal cabinet approved the proposals for the annual budget for 20-21.

A special meeting of the Federal Cabinet was held under the chairmanship of Prime Minister Imran Khan in which budget proposals were discussed.

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A special meeting of the Federal Cabinet was held under the chairmanship of Prime Minister Imran Khan in which budget proposals were discussed.

Finance Advisor Abdul Hafeez gave a special briefing on the federal budget. The Cabinet was also briefed on development budget subsidies, exports, gross grants including loans on imports, tax rates, defense, and education budgets.

In the special meeting, Prime Minister Imran Khan also addressed the cabinet members, and the members present in the meeting were taken into confidence on the overall budget.

Read more: The federal budget of over Rs 88 trillion will be presented today

The budget proposals have been approved in a special meeting of the federal cabinet. The budget for the next financial year 20-21 will be presented in the National Assembly today.

Sources said that the federal cabinet has decided not to increase the salaries and pensions of government employees, salaries and pensions will remain the same as last year.

Reduction in the development budget of the provinces

The national development budget for the next financial year is proposed to be Rs. 1324 billion out of which the federal development budget is proposed to be Rs. 650 billion while the development budget of the provinces is proposed to be Rs. 674 billion.

The federal government has cut the federal development budgets for the provinces.

Punjab’s development budget for the current financial year is Rs 350 billion. However, the government has proposed to keep Punjab’s development budget for the next financial year at Rs 337 billion.

Sindh’s development budget for the current financial year is Rs. 279 billion which is proposed to be Rs. 165 billion for the next financial year.

Balochistan’s development budget for the current financial year is Rs 108 billion which has been set at Rs 75 billion for the next financial year.

Similarly, KP’s development budget for the current financial year is Rs 236 billion, which has been reduced to Rs 100 billion.

Proposal to bring inflation to 6.5%

According to sources, the GDP growth target for the next financial year is proposed to be 2.1% while the growth target for the agricultural sector is proposed to be 2.8%.

Sources said that the growth target of the industrial sector is proposed to be 0.1 percent, the manufacturing sector a negative target of 0.7 percent, and the growth target of large industries a negative 2.5 percent. In addition, the growth target for the construction sector is 3.4 percent, the growth target for the services sector is 2.6 percent and the growth target for the power generation and gas distribution sector is 1.4 percent.

Sources said that the next fiscal inflation is proposed to be brought down to 6.5 percent.

The federal cabinet has decided not to impose any new tax in the budget for the next financial year and the prime minister said that relief should be provided to the people in the budget.

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