Government to set revenue collection target of Rs.6 trillion for FY22

April 12, 2021 (MLN): The federal government is expected to set a revenue collection target of Rs.6 trillion for FY22, as it aims to increase tax collection by Rs.1.4 trillion.

According to the sources, the government is likely to set non-tax collection at Rs.1,420 billion for the next fiscal year.

On the growth front, the government expects GDP to grow by 4% in FY22.

Furthermore, the budget for public sector spending is likely to set at Rs.630 billion.

For FY22, the Government is likely to fix Rs.600 billion collections from petroleum levy.

Also, the government is expected to allocate Rs.1,444 billion for Defense, while Rs.3,100 billion will be allocated for debt and principal payment.

Meanwhile, the budget size of FY22 will be around Rs.7.7 trillion.

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Posted on: 2021-04-12T13:55:00+05:00