Govt’s ‘pro-growth’ budget: The winning leap
Faraz Saeed
Pakistan is on the cusp of major change; transitioning into an era of prosperity and growth from the arduous journey of recovery and stabilization, as the PTI government presented its third budget for FY 21-22 to the tune of Rs 8.5 trillion, setting up an economic growth target of 4.8 percent.
The budget can be termed as a winning leap, since it promises growth for businesses and industry, and upliftment of the poor; as the development spending has been raised by more than 40 per cent to the tune of Rs2.135 trillion.Virtually every category of business, particularly manufacturing industry and financial services, has received tax cuts.Like wise, minimum wage for daily wagers has been raised by more than 20pc, while salaries for civil servants have been hiked by 10pc, which is a prime driver towards poverty alleviation.