Academics Hail Budget 2021-22

Academics have welcomed the new budget unveiled by Minister for Finance and Revenue Shaukat Tarin on Friday, saying that the government has addressed many of their concerns this time

KARACHI, (UrduPoint / Pakistan Point News - 11th Jun, 2021 ) :Academics have welcomed the new budget unveiled by Minister for Finance and Revenue Shaukat Tarin on Friday, saying that the government has addressed many of their concerns this time.

They have also termed the budget as growth-oriented, they said while talking to APP here on Friday.

They lauded the federal government for presenting a pro-people budget for Fiscal Year (FY) 2021-22.

Chairman Department of Media and Communication Studies, University of Shah Abdul Latif, Professor Dr. Mujeeb ur Rehman Abro said that Rs 8.48 trillion federal budget for fiscal year 2021-22 (FY22) was development-oriented, adding that the government had allocated Rs 2,135 billion under the Public Sector Development Programme (PSDP).

Total allocations for the Public Sector Development Programme (PSDP) have been budgeted at Rs 2,135 billion for FY22, up 37pc from Rs 1,324 billion last year, he elaborated.

Under this, federal PSDP makes up Rs 900 billion, up 27.7pc from last year's allocation, while provincial PSDP makes up Rs1,235 billion, registering a rise of 45pc from last year's budget, he told.

More relief has been given to poor people despite facing a sort of uneasiness because of the COVID-19 pandemic, he maintained.

Responding to the speech of Federal Advisor to Chief Minister on Finance, Shaukat Tarin while presenting Annual Budget for FY 2021-22 in the National Assembly, Dean Faculty of business Administration the Dadabhoy Institute of Higher education, Prof. Dr. Herani, Gobind said that the federal government presented a tax-free budget.

He said that the new budget focused on problems faced by common people, adding that the federal budget would help in boosting economic activities in the country. He added said that the new budget would help to overcome price hike.

Several industries had been given tax relief in the budget that might be resulted in controlling price hike, Expert in Economic issues, Dr. Mumtaz Ali Dahari said, recounting that the government had set the GDP growth target at 4.8pc.

There were a lot of difficulties but Pakistan Tahreek-e-Insaf (PTI)-led government had laid the ground for the economy to revive and now it is going towards development and prosperity, Dahari further told.