The federal government today announced its Rs. 18.6 trillion federal budget for 2024-25, against a total of Rs. 12.97 trillion in expected revenue in taxes.
According to details attained by ProPakistani, the government is set to receive a total of Rs. 12.97 trillion in taxes, while another Rs. 4.84 trillion in non-tax revenues.
According to numbers, total tax and non-tax revenues for the federal government will stand at Rs. 17.82 trillion, out of which Rs. 7.44 trillion will go to provinces; leaving the federal government with a fund of Rs. 10.37 billion for its expenses during 2024-25.
The government is set to cover the budget deficit of Rs. 8.5 trillion through following:
- Non-Banking Borrowing: Rs. 2.67 trillion
- Net External Receipts: Rs. 666 billion
- Bank Borrowing: Rs. 5.14 trillion
- Privatization of government-owned entities: Rs. 30 billion
As for the expenditures, below are going to be the estimated expenditures for the federal government during the fiscal year 2024-25
- Interest Payments: Rs. 9.77 trillion
- Pensions: Rs. 1.01 trillion
- Grants to Provinces and Subsidies: Rs. 2.12 trillion
- Defense: Rs. 2.12 trillion
- Running of the government: Rs. 839 billion
- Allocation for emergencies: Rs. 313 billion
- Federal PSDP: Rs. 1.4 trillion
- Lending: Rs. 274 billion
For live updates on everything about the Federal Budget, visit this link.
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