The federal government is planning to create 2 million new jobs in fiscal year 2026-27, as part of its broader economic strategy outlined in budget documents ahead of the official announcement.

The employment target is divided across sectors, with 1.1 million jobs expected in services, 500,000 in industry, and 400,000 in agriculture, reflecting a focus on broad-based labor market expansion.

The budget, estimated at over Rs. 17.5 trillion, places job creation alongside growth acceleration and inflation control as key priorities. Officials have also set a 4 percent GDP growth target and an inflation estimate of 8.2 percent for the coming fiscal year.

Sectoral growth projections include 3.8 percent for agriculture, 4 percent for industry, 4.5 percent for large-scale manufacturing, and 4.2 percent for services.

On the fiscal side, tax revenue is targeted at Rs. 15,267 billion, while non-tax revenue is projected at Rs. 2,767 billion. Petroleum levy collections are expected to reach Rs. 1,727 billion. Debt servicing remains the largest expenditure item at Rs. 7,824 billion, followed by defense spending of nearly Rs. 3 trillion.

The National Economic Council has approved a development plan worth Rs. 3,669 billion, including Rs. 1,000 billion for the federal Public Sector Development Programme and Rs. 2,218 billion for provincial projects. Authorities have also decided that no new development schemes will be launched next fiscal year, except those linked to defense and the Ministry of Interior.

Budget proposals further include around Rs. 50 billion in tax relief for salaried individuals, with possible revisions in income tax slabs and rates. Individuals earning above Rs. 183,000 per month may benefit, while the surcharge on annual incomes above Rs. 10 million is under review for possible removal.

External sector projections show a potential trade deficit exceeding $37 billion, with exports targeted at $32.8 billion and imports at $70 billion, highlighting continued pressure on the balance of payments.