The federal government has not been able to achieve major budgetary target set for the current fiscal year as it missed revenue projections and breached expenditure limits.
According to budget documents prepared by the Ministry of Finance, the government missed targets on overall tax revenue, FBR tax collection and resultantly the provinces could not get their promised share of the federal divisible pool.
The government had set a target of Rs3.421 trillion for tax revenue but is now expected to face a shortfall of about Rs40 billion as revised estimates have been put at Rs3.381tr.
