ISLAMABAD – The Federal government of Pakistan to present a Budget Strategy Paper for the fiscal year 2015-16 in the parliament committee for financial affairs on Wednesday.
The volume of federal budget is supposed to be just over the Rs. 42 trillion, Gross Domestic Product (GDP) ratio has fixed to 5.5 percent, and Rs13 Trillion might be spent on payment of state loans.
The target of revenue generation is set to Rs3000 Billion.
Credible sources said that there is 5 to 10 percent increase is expected in pension and salary of government employees.
Moreover, defense budget will increase up to RS770 Billions. There will be potential decline in the amount of subsidy by 25 percent.
Moreover, the decline in General Sales Tax (GST) is expected to be one percent.
According to sources, budget will be presented in federal cabinet after the approval of parliamentary committees for financial affaris.
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