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Saturday, February 24, 2024  
13 Shaban 1445  

Govt expects 21% inflation rate over next year

The estimate was set at 11% last year

The government has set an inflation estimate of 21% for the next fiscal year as part of its annual plan, according to documents seen by Aaj News.

The 21% rate would be a tall ask, given that the inflation rate is at a historic high of 38% on a monthly basis. The government had set an inflation estimate of 11% in the last year, but the it ended up around 25%.

Here are other highlights of the government’s annual targets

  • GDP target set at Rs99,335 billion
  • Indirect taxation target set at Rs6,482 billion
  • National Savings target set at Rs14,170 billion
  • Net Factor Income from Abroad target set at Rs6,971 billion

 Photo via Aaj News.
Photo via Aaj News.

The government has also set sectorwise targets for the next fiscal year, most of them revised down from last year.

  • Agriculture growth target set at 3.5%
  • Overall industry target set at 3.4%
  • Large Scale manufacturing set at 3.2%
  • Construction growth rate set at 1.5%
  • Services growth target set at 3.6%

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