Electricity inflation, new tax preparation, new budget will come, extra income of 400 billion, income tax exemption 8 lakh rupees, one percent increase in import duty, deduction in development costs - Infopedia360

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ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government has decided to review the federal budget presented by the PML-N, which will also amend the issue of tax exemption in the previous government. Sources say that the PML-N's government had exempt income tax from the income tax to 12 lakh rupees, but now the federal government will reduce this limit to 8 lakhs, new federal budget will be Rs 400 billion new taxes The development costs will be deducted and the electricity is also expensive. According to the sources, the Government will submit the suggestions in the Finance Bill to increase the tax revenue, while one percent of all imported items will be proposed for regulatory duty, which is likely to get the government revenue. Sources say that the government's duty and increase in taxes while PSDP has reduced to Rs 400 billion,

For this, new budget suggestions will be presented in the federal cabinet today, after approval, budget suggestions will be presented in Parliament. According to the sources, new targets will be set by revising budget and target targets presented by the previous government, target of economic growth will be reduced from 6.2 percent to 5.5 percent, sources of 1030 billion rupees The development program can be reduced to Rs 400 billion and it can be brought upto Rs. 6 billion and while there are 400 unauthorized development schemes which are likely to be included in the PSDP. Most of these schemes were NHAC, Finance Minister Asad Umer had called for amendments in the Finance Act 2018, on Tuesday. According to EA, tax exemptions will be reverted in the Finance Act 2018, as unauthorized assets will be brought to the tax net, as well as other products including cigarettes are likely to increase, more than 5,000 imported items (tariff Lines) will be set to increase regulatory duty, new budget deficit in budget budget and budget deficit will be fixed as deficit and budget deficit has gone far ahead, GDP will also set new goals by revising inflation goals, as well as FBRs. The target target is likely to be increased from 4.9 percent to 5.5 percent, according to the ministry's trade sources, the export package can also be offered for exports, while imports Regulatory duty and additional duty are likely to be imposed on imported items for reduction.