Govt fails to achieve set targets during the fiscal year, 2009-10: Budget working paper

The growth rate is likely to be targeted at 4.5 percent, agriculture growth rate at 3.8 percent, production sector at 5.6 percent, exports at 19.9 billion dollars and imports 31.7 billion dollars in the next financial year 2010-1.

As per budget working paper the services target is likely to be set at 4.7 percent, foreign exchange reserves target at 15 billion dollars, exports target at 19.9 billion dollars, imports target 31.7 billion dollars and trade deficit target at 11.7 billion dollars in the next fiscal year.

Working paper said the government had failed to achieve all its targets set for the financial year 2009-10.

Sources told the exports were likely to stay at the level of 19.2 billion dollars and imports . 29.9 billion dollars during the current fiscal year. The fiscal budget will rise from 5 percent to 5.5 percent. Repayment of loans would pose a big challenge to the government. Improvement was recorded in the production of industrial sector during the ongoing financial year. Agriculture sector production dipped by 2 percent while direct investment plunged by 58 percent during the current fiscal year.

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