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ISLAMABAD: The Federal Budget 2024-25 for the new financial year will be presented in the National Assembly today(Wednesday), revealing an ambitious expenditure plan of Rs18,900 billion, based on a deficit of Rs9,800 billion.
The fiscal strategy will place a considerable burden on the public through heightened inflation and additional taxes, with electricity prices expected to rise by Rs5 to 7 per unit. Inflation is projected to exceed the official target of 12 percent.
For the first time in history, a Rs3,792 billion development budget has also been proposed.
Defense and Security:
An allocation of Rs2,100 billion has been proposed for the defense sector to ensure national security and support the armed forces.
The Rs2100 billion allocated for defense marks a 19.29% increase from the Rs1804 billion set aside in the 2023-24 budget.
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