The Prime Minister’s House budget has increased by Rs 260 million, bringing the total for the upcoming fiscal year to Rs 1.2 billion. The PM House had a budget of Rs 993 million in the prior fiscal year.
The PM House’s costs have, however, surpassed the allotted budget by Rs 10 million. The PM House intends to spend approximately Rs 480 million around this year-end. The PM House’s overall public expense budget is 630 million rupees.
It is important to note that Senator Ishaq Dar, Federal Minister for Finance and Revenue, presented the national budget for Fiscal Year 2023–2024 with an overall expenditure of Rs. 14.5 trillion.
Growth in GDP has been predicted at 3.5 percent for the national budget for the upcoming year, which is thought to be a modest goal. Ishaq Dar emphasized that the proposed budget is focused on the actual economy rather than being specifically designed for electoral purposes.
Dar states that a total of Rs 14.46 trillion is estimated to be spent on the budget, among which Rs 7.3 trillion will be used to pay interest. While the primary balance is predicted to be in surplus by 0.4 percent of GDP, the anticipated fiscal deficit is 6.54 percent.
For the fiscal year 2024, the Federal Board of Revenue (FBR) hopes to raise Rs 9.2 trillion in taxes, with the provinces contributing Rs 5.276 trillion.
