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.
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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