After missing the economic growth target in its first year because of a poor show by agriculture and services sectors, the PML-N government has set an ambitious target to expand the economy at a rate of 7.2 per cent by the financial year of 2016-17.
A meeting of the cabinet, presided over by Prime Minister Nawaz Sharif on Thursday, cleared the “Budget Strategy Paper 2014-17”, envisaging fiscal deficit at 4.8pc for the next financial year, rate of inflation at 7.5pc, federal development programme at Rs525 billion and tax revenue at Rs2.810 trillion.
