The federal government failed to achieve several economic targets. The economic survey for the current fiscal year will be released tomorrow at 2:30 pm. Sources say that the federal government failed to achieve several economic targets. The performance was better than last year. The target of a 3.6 percent economic growth rate could not be met. The economic growth rate in the current fiscal year was recorded at 2.7 percent.
Inflation was limited to only 5 percent against the target of 12 percent. Per capita income was 34,794 rupees less than the set target. Annual per capita income was recorded at 509,174 rupees. The target of per capita income was set at 543,968 rupees. Source also said that the government is set to present the FY2025-26 budget on Tuesday.
Thus, as per the survey, the indirect tax collection figures stood at 8393 billion rupees (while the target was at 7799 billion rupees). Agriculture: The performance of the agriculture sector was 0.6% compared to the target of 2%; production of the major crops was negative 13.5% against the target of 4.5%; cotton production decreased by 30.7%, while production of maize came down by 15.4%, sugarcane by 3.9%, and rice by 1.4% and Wheat production recorded a decrease of 8.9%; and minor crops production was 4.8% against the target of 4.3%. however, the increase was shown in the production of vegetables, fruits, oil seeds, spices, and green fodder.
Sources said that the growth target of the industrial sector was recorded at 4.4% and the performance was recorded at 4.8%. The production of textiles, vehicles, garments, tobacco, and petroleum increased; the production of food, chemicals, iron, steel, electrical machinery, and furniture fell; the annual target of the services sector was 4.1 percent, and the performance was 2.9 percent.
The performance of the construction sector was recorded at 6.6 percent against the target of 5.5 percent. The production target of large industries was 3.5 percent, and the performance was recorded at negative 1.5 percent. The target of small industries was 8.2 percent, and the performance was 8.8 percent.
The growth of the electricity, gas, and water sectors was 28.9 percent against the target of 2.5 percent; the health sector’s target was 3.2 percent, and the performance was 3.7 percent; the performance of the education sector was 4.4 percent against the target of 3.5 percent; loans to the private sector increased from 294 billion to 870 billion rupees; total revenue increased by 36.7 percent to 13,367 billion rupees; and tax to GDP increased from 6 percent to 8 percent.
