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Tax Free Federal Budget 21-2020 Highlight

Tobacco is 20% more expensive
Fabric is 10.34% more expensive
Shoes are 10.34% more expensive
The volume of the new budget is set at Rs 7,294 billion.
The available financial resources were estimated at Rs 8,314 billion.
Auto rickshaw eliminates advance tax on motorcycle rickshaws and 200 cc motorcycles.
70 billion relief was given in petroleum products
The limit for purchases made without ID cards has been increased from Rs 50,000 to Rs 1 lakh.
Tax increase on double cabin and SUV vehicles.
Reduction in tax on mobile phones manufactured in Pakistan.
Excise duty on imported cigarette batteries and cigar prices increased from 65% to 100%
Abolish import tax on baby supplements and diet foods.
The amount of artist fund for financial support of artists has been increased from Rs 250 million to Rs 1 billion.
SBP has reduced the policy rate from 13.25% to 8%.
The ongoing financial account deficit for the year decreased by 73%.
The trade deficit fell from 21 21 billion to ارب 9 billion.
In the first 9 months of the financial year, FBR revenue increased by 17%.
External loans of 6 6 billion were repaid.
5000 billion interest on past loans
Overseas job opportunities were created for 1 million Pakistanis.
Moody’s boosted our economy.
Target to collect revenue of Rs. 1600 billion in the next financial year.
The IMF has approved a ف 6 billion fund feasibility.
820,000 fake people were removed from the Ehsas program.
Pakistan’s business rankings rose from 136 to 108
The Corona epidemic has dealt a severe blow to the Pakistani economy.
GDP growth rate and investment hurt
GDP declined by Rs 3390 billion.
GDP growth slowed to minus 0.4 percent from 3.3 percent.
The overall budget deficit of GDP increased from 7.1% to 9.1%.
Federal revenue tax collection decreased by Rs 102 billion.
96 billion for 3 months for small business at 4% lower interest.
There is no new tax in the budget.
The realization program will continue
The budget allocation for the Ehsas program has been increased from Rs 187 billion to Rs 208 billion.
A subsidy of Rs 180 billion has been fixed for energy, food and other sectors.
The allocation of HEC has been increased from Rs 60 billion to Rs 64 billion.
Rs 30 billion will be provided to New Pakistan Housing Authority.
Rs 55 billion for Azad Jammu and Kashmir and Rs 32 billion for Gilgit-Baltistan.
Rs 56 billion allocated for integrated districts of Khyber Pakhtunkhwa
Special grant of more than Rs. 19 billion to Sindh and Rs. 10 billion to Balochistan.

Rs 40 billion allocated for railways
2 billion allocated for successful youth program
Rs 14 billion allocated for federally run hospitals in Lahore and Karachi
10 billion allocated for relief and prevention of locust heart in the agricultural sector
Target to increase GDP growth from negative 0.4 to 2.1%
Current account deficit will be limited to 4.4%.
Inflation will be reduced from 9.1% to 6.5%.
Foreign investment will be increased by 25%.
The total federal and provincial development expenditure is Rs. 1,324 billion.
Rs 650 billion allocated for public sector
The allocation for social sectors has been increased from Rs. 206 billion to Rs. 250 billion.
80 billion allocated for electricity demand and production
Rs 70 billion allocated for water sector
Rs 118 billion allocated for NHA and C-Pack projects
Rs 24 billion allocated for other railway projects
Rs 37 billion has been set aside for communication projects
An amount of Rs. 20 billion has been allocated for the manufacture of health and medical equipment
Establishment of smart schools in the education sector Rs. 5 billion allocated for uniform curriculum
Rs 30 billion allocated for innovation and development in education.
Rs 6 billion allocated for tackling climate change
Azad Kashmir allocates Rs 40 billion for development funds in Gilgit-Baltistan
Rs 12 billion allocated for SDP goals
Rs 2 billion allocated for rehabilitation assistance to Afghanistan.
The hotel tax rate has been reduced from 1.6% to 0.17% by September.
FBR target reduced to Rs 3,900 billion due to Corona epidemic

Domestic tax revenues increased by 27%.
Eliminate import tax on cancer diagnostic kits.
FED on energy drinks increased from 13% to 25%.
Tax on imports of raw materials for medium and small manufacturers has been reduced from 5% to 2%.
The rate of tax on machinery imports has been reduced from 5.5 per cent to 1 per cent.

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