The budget is here and as usual it is a mixed bag. Nobody was expecting much from a budget in times when the world is facing an economic recession and the country is seeing the worst of it. Being hit financially by the floods and terrorism, the country’s economy is in shambles. Keeping that in view, the government has taken steps that might be termed practical while other seems a tad ambitious especially given it missed not some but all of its fiscal targets this year.
But it would be a good idea to keep expectations low. The tax net was supposed to be broadened but there weren’t any concrete measures taken towards it with no agricultural tax for the feudal elite and no income tax for the their urban affluent counterparts. Much was made of austerity but the budget of the presidency and PM secretariat saw a spike. Defence budget saw a 12 per cent increase while the PSDP allocations weren’t clear.
There are a lot of caveats for things to take a turn for the better in the upcoming year. This plan could turn out okay if properly implemented but it could mean that things will get much worse before they get any better.
SAMINA A
Lahore
