Federal Government Pakistan Presents Budget For Year 2024-25
PML-N federal government has presented its 2nd annual budget. Defence budget has been increased this year. No new tax has been imposed. Sales tax on different sector has been increased. Salaries and pensions have been increased. Sufficient funds have been allocated for the health and education sectors. Government has tried its best for giving the maximum relief to masses. Special budget has been reserved for construction of dams. On this page we shall publish all the details about federal govt annual budget for the fiscal year 2024-25 in Urdu language.
80 percent tax revenue will be spent on payment of loans and interest. 400 billion rupees have been reserved for benazir income support program. Subsidies of 1300 billion rupees will be given. 1800 billion rupees will be spent on defence. 1150 billion rupees have been allocated for developmental projects. 81.9 billion rupees have been reserved for education.
Points to Remember
According to the federal cabinet meeting, a 35% increase in the salary of government employees from grade 1 to 16 has been proposes. A 30% increase in the salary of government employees above grade 17 has been approved. An increase of 17 and a half percent in the pension of the pensioners was also approved. EOBI pension will be 10000 rupees per month. Sources further have made it clear that approval was given to fix the minimum salary at 32 thousand rupees. Cabinet also approved allocation of PKR 491.3 billion for infrastructure, keeping Rs 86.4 billion for the energy sector.
18% tax have been imposed on tetra pack milk, cheese, butter, packed curd, tin pack fish, packed chicken and eggs. GST on branded dresses, leather and textile have been increased 15% from 12%. 5% tax will be received from coffee house, shops and food outlets but this tax will be received on payment via debit and credit cards. Tax has been reduced on herbal/unani medicines and solar panels. 0.6 percent withholding tax will be received from non filers on withdrawal of more than 50000 rupees from bank. Super tax rates will be increased. 5% withholding tax will be received on sending foreign currency via credit or debit card. IT sector has been given the status of SME. Up to 100000 laptops will be given to students. Read more details in the newspaper cuttings given below this web page.
What is National Budget in Pakistan?
The National Budget, also known as the Annual Budget, is the document in which the government presents its financial plans and budget for the upcoming financial year. The budget covers various aspects of the economy, including taxation, social security, health care, education, infrastructure, public services, trade and foreign affairs. In addition to the budget, the government also issues a report outlining the performance of the budget in the previous fiscal year.
Who Present The Federal Budget in Pakistan?
The federal budget is a statement of the financial resources and obligations of the government for the upcoming fiscal year. It is developed by federal finance ministry. All government MNAs are bound to vote in favour of annual budget, otherwise they may be disqualified.
Final Words
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Federal Annual Budget Pakistan 2024-25-Details in Urdu
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