Rs14.5tr budget for FY24 | Budget 2023-24 | Dunya News Transmission

In the midst of ongoing political and economic challenges, the coalition government is poised to unveil the federal budget for the fiscal year 2023-24, projecting a substantial outlay exceeding Rs14.5 trillion. With the International Monetary Fund (IMF) closely observing, Finance Minister Ishaq Dar will deliver the budget speech today at 4pm in the National Assembly. The budget session's agenda, as outlined by the NA Secretariat, encompasses four key points.

Anticipated to be 7.7% of the Gross Domestic Product (GDP), the federal budget is expected to reflect a deficit. Finance Minister Ishaq Dar will present this budget, which entails the announcement of over Rs700 billion in new taxes.

Formulated in consideration of the prevailing domestic and international economic challenges, the budget aims to address various aspects. Notably, it sets aside Rs1,150 billion for the annual development program and Rs1,800 billion for defense expenditures. There may also be an increase in levies on petroleum products. Furthermore, government employees and pensioners may receive respective raises of 20% and 15%.

The finance ministry has proposed allocating Rs7,300 billion for debt and loan payments, as well as Rs1,300 billion for subsidies. The Federal Board of Revenue (FBR) is tasked with achieving a tax collection target of Rs9,200 billion, while non-tax revenue is projected to reach Rs2,800 billion.

According to sources, the budget document places significant emphasis on alleviating people's hardships, transforming the agriculture sector, promoting Information Technology (IT), boosting exports, driving industrial growth, and strengthening businesses.
#budget2023 #ishaqdar


Welcome to the official channel of Dunya News. Pakistan’s Top News Network delivering the latest from around the globe.

Home to some of the most popular Talk Shows and Journalists such as Hasb e Haal, Mazaaq Raat, Dunya Kamran Khan Kay Sath, On The Front With Kamran Shahid, Think Tank, Ikhtalafi Note and, more.


Dunya News Live Stream
https://dunyanews.tv/live

Follow Our Facebook Page: https://www.facebook.com/dunyanews
Follow our Twitter Page: https://twitter.com/dunyanews