Federal government will present deficit budget of volume of Rs 9500 billion for the fiscal 2022-23 in National Assembly (NA) on Friday.
Finance Minister (FM) Miftah Ismail will present budget at 4pm in NA on Friday while the salaries of the government employees are likely to be increased from 5 percent to 10 percent.
The defence and revenue budget is being scaled up .
As per details the expenditures of the federation are estimated at Rs 8894 billion in the upcoming budget for fiscal 2022-23.
Federal Board of Revenue will collect tax amounting to Rs 7255 billion. Under the head of non tax Rs 1626 billion are estimated to be acquired. Rs 4215 billion will be transferred from federation to the provinces. Rs 1586 billion is estimated to be allocated for defence budget. Grants amounting to Rs 1232 billion will be accorded. Rs 3523 are estimated to be paid against debt and interest. Rs 550 billion are likely to be earmarked for running government affairs.
A sum of Rs 530 billion is estimated to be allocated for pension. Allocation of Rs 578 billion are likely to be made for providing subsidies.
The volume of development budget for the financial year 2022-23 will be Rs 800 billion. The budget deficit is estimated to be kept Rs 4282 billion. The economy volume of next financial budget will stand at Rs 78197 billion.
