Financial Year | MCQs

Explanation

The Financial year /tax year of Pakistan is starting from 1 July through 30 June.

Explanation

The Financial year /tax year of Pakistan starts from 1 July 

It runs for 12 months, starting on July 1st and ending on June 30th 

Designation: It's often referred to by the calendar year in which it ends

Explanation

•  3.94 is the GDP ratio in Pakistan during 2020-21
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  Minister for Finance Shaukat Tarin said that Pakistan’s GDP growth stood at 3.94 percent against the envisaged target of 2.1 percent,
• remittances made a historic record, and exports would be touching $25 billion in the outgoing fiscal year.
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• Agricultural GDP of Pakistan in 2019: 22.4%
• According to the Economic Survey of Pakistan 2021-22, only 1.77 % of GDP was spent on the education sector in FY2021.
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• Japan had a record-high Defence budget, more than a ceiling of 1% of its GDP in April 2021
• According to GDP per capita report 2021 poorest country in the world is Burundi

Explanation

The Federal budget 2020–2021 is the federal budget of Pakistan for the fiscal year beginning from 1 July 2020

ending on 30 June 2021.

The budget was presented in Parliament by Federal Minister Hammad Azhar

It is also called the Corona budget

The total size of the budget is Rs. 7136 (US$25) billion.

Rs. 1289 (US$4.50) billion for defense

,Rs. 83.3 (29¢ US) billion for education

Rs. 70 (24¢ US) billion were allocated for preventing coronavirus,

Rs. 80 (28¢ US) billion for special economic zones