Federal Budget for FY ’19 to be released on Friday

Preparations continue in full swing in accordance with the prescribed timelines for the presentation of the federal budget for fiscal year 2018-19, scheduled to be unveiled on Friday.

The budget would be balanced, focusing on economic stability and growth, as the government had taken feedback from all the stakeholders for preparing this document, official sources said. The document would reflect continuity of the government policies and no major change would be introduced.

In line with the tradition of the last four years, the well-being of the general public would be the top priority of the government in the upcoming budget and the budgetary measures would focus on employment generation and achieving higher, sustainable and inclusive economic growth.

The budget is being prepared in close coordination between all departments and ministries involved in budget-related events including the presentation of the budget in the Parliament and launching of the Economic Survey, the sources added, according to APP.

Since provision of relief to common masses is top priority, hence it was being prepared after extensive consultations with stakeholders including the business community, traders and chambers of commerce and industries, who all have provided valuable and constructive suggestions.

On revenue side, the government would introduce measures for bringing improvement in the system of tax collection, broadening the tax base, and facilitation to taxpayers, they said and argued that a strong revenue generation would play a crucial role in achieving the targets for economic growth.

Meanwhile, the pre-budget document, Economic Survey 2017-18 would be launched Thursday, April 26, to share key economic indicators and the performance of different sectors of the economy during the fiscal year 2017-18.

The survey would highlight the main features of the government’s economic policies, which had resulted in macro-economic stability and growth rate of about 5.8 per cent.

The survey will cover the development of all the important sectors of economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets, inflation, debt and liabilities.

Posted on: 2018-04-25T16:23:00+05:00