The presentation of the federal budget for the upcoming fiscal year will take place, with a total outlay of Rs 13,800 billion.
Federal Budget FY 2022-23 presented today: According to sources, the budget will be larger than Rs 13,800 billion, with a deficit of more than Rs 6,000 billion and debt repayment costs of Rs 7,300 billion.
According to sources familiar with the budget’s structure, taxes might bring in an estimated Rs 9,200 billion, non-tax revenue could total Rs 2,800 billion, and subsidies could receive Rs 1,300 billion.
The sources affirmed that the projected budget for development for the ensuing fiscal year is Rs 1,150 billion. The government plans to present the federal budget for the upcoming fiscal year today, with a total outlay of Rs 13,800 billion. Despite anticipating defense costs exceeding Rs 1,800 billion, the provinces expect to receive Rs 5,244 billion from the national divisible pool.
However, In the forthcoming federal budget, there is a chance that pay for public employees will rise by 20–30%, and pensions will rise by 20%. Additionally, the government would probably allot more than Rs 700 billion for pensions.