Wednesday, October 27

Budget for FY 2020-21 : Highlights

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Federal Minister for Industries and Production presented Federal Budget for the Financial Year 2020-21 in National Assembly today. Here are few highlights of Federal budget 2020-21

Key Highlights and allocations are as under:

Highlights of the Federal Budget for the FY 2020-21 :

  • No New Taxes has been imposed.
  • No Rise in the salaries of the Government Servants.
  • No Rise has been announced for pensioners.
  • Volume of the Budget is kept at 7600 Billion Rupees.
  • For Corona Relief Package a substantial amount has been reserved.

Key Allocations of the Federal Budget for the FY 2020-21 :

  • 1324 billions allocated for development projects (Public Sector Development Program).
  • 1289 billions allocated for Defense sector.
  • 1200 billions allocated for Corona Relief Package.
  • 250 billions allocated for Social Sectors.
  • 208 billions allocated for Ehsaas program.
  • 200 billions allocated for daily wagers.
  • 118 billions allocated for projects under China Pakistan Economic Corridor.
  • 75 billions has been set aside for the medical sector.
  • 70 billions allocated for the improvement of water resources.
  • 70 billions allocated for clean water project in Gwadar.
  • 64 billions has been set aside for higher education.
  • 55 billions special grant allocated for Azad Kashmir.
  • 50 billions allocated for utility stores.
  • 48 billions allocated for KP’s tribal areas.
  • 40 billions allocated for Pakistan Railways.
  • 30 billions allocated for health service.
  • 30 billions allocated for education sector.
  • 20 billions allocated for science and technology.
  • 13 billions allocated for federal government hospitals.
  • 12 billions allocated for food security.
  • 10 billions allocated for agriculture sector.
  • 10 billions special grant allocated for Baluchistan.
  • 10 billions allocated for locust attack prevention.
  • 06 billions allocated to deal with challenges occurred by climate change.
  • 6 billions allocated for the up gradation of ML1 and restoration of dry port.
  • 5 billions allocated for educational reforms.
  • 2 billions allocated for successful youth program.
  • 1.5 billions allocated for Naya Pakistan housing scheme.
  • 01 billion allocated for artist welfare fund.
  • 1 billion allocated for E Governance.

By: Syed Umaer Anwer

The Writer is a CSS Qualifier but not allocated in any service group. He is an Agriculture graduate and Banker (of course) who has interests in international relations, governance, and Public policy studies. Instagram @omayrgillany

 

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