The federal government has unveiled its Rs. 18.6 trillion budget for the fiscal year 2024-25, with an anticipated tax revenue of Rs. 12.97 trillion.
According to detailed reports, the government expects to generate Rs. 12.97 trillion in tax revenues and an additional Rs. 4.84 trillion in non-tax revenues.
In total, the federal government’s revenue, including both tax and non-tax sources, is projected to be Rs. 17.82 trillion. Of this amount, Rs. 7.44 trillion will be allocated to the provinces, leaving the federal government with Rs. 10.37 trillion for its expenditures in 2024-25.
To address the budget deficit of Rs. 8.5 trillion, the government plans to utilize the following sources:
- 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
Projected expenditures for the fiscal year 2024-25 include:
- 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
- Government Operations: Rs. 839 billion
- Emergency Allocations: Rs. 313 billion
- Federal PSDP: Rs. 1.4 trillion
- Lending: Rs. 274 billion