ISLAMABAD: The government has set a target to grow the GDP by 2.1%, which will be a big challenge for the country to achieve in the backdrop of the ongoing COVID-19 pandemic, locust attack and first economic contraction in 68 years.
A budget of Rs1,324 billion has been allocated for the national development programme – with Rs650 billion expected to be spent on the Public Sector Development Programme (PSDP) and Rs674 billion for the Annual Development Programme (ADP), which the provinces spend. Rs477 billion has been allocated for 698 old projects in the PSDP.
The health sector is set to receive Rs14.5 billion in the new budget while Rs29.5 billion has been allocated for the Higher Education Commission.
In the new budget, federal ministries will receive Rs418 billion.
Meanwhile, a proposal has been made to allocate a Rs4.5 billion development budget for education while another proposal has been made to reserve Rs5 billion for climate change.
Another Rs24 billion each for parliament schemes and the Pakistan Railways will be allocated in the upcoming financial year budget.
A development budget of Rs118 billion has been allocated for the NHA.
Last year, Rs155 billion was set aside for road construction. – NNI
Govt arrays 2.1 percent economic growth target amid serious challenges
