Budget 2021/22: Govt to focus on agriculture, exports to mitigate Covid-19 woes

KARACHI: The government is ready to present the Federal Budget 2021-22 on Friday (June 11), keeping in mind the impact of the coronavirus pandemic, which has badly affected the world economies.

Federal Finance Minister Shaukat Tarin will present the budget in the parliament.

Sources said the budget would focus on measures to mitigate the sufferings of the people, transforming the agriculture sector and bolstering businesses.

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The document would also give attention to fiscal management, revenue mobilization, measures for economic stabilization and growth, reduction in non-development expenditures; boost in exports, besides job creation, and people-friendly policies for the socio-economic prosperity of the country.

It would also focus on social sector development and would introduce reforms for improving governance and boosting private sector investment.

The sources said the government would introduce measures for bringing improvement in the tax collection system, instead of levying new taxes.

The document would entail broadening the tax base and facilitating the taxpayers. A strong revenue generation will play a crucial role in achieving the economic growth targets.

Meanwhile, the government will present the Economic Survey for 2020/21 in the parliament on Thursday (June 10).
The survey would highlight the overall performance of the economy during the outgoing fiscal year, providing realistic feedback and a basis for future planning.