ISLAMABAD: The coalition government has presented Rs. 18.9 trillion Federal Budget 2024-25 amid Opp protest.
The federal government imposed new taxes, increased employees salaries and pensions.
The government has allocated Rs. 2.122 trillion for defense in the budget for the fiscal year 2024-25, reflecting a significant increase in defense spending.
Last year, the government allocated Rs1.804 trillion on defense for the year 2023-24, which was around 13% higher than the revised allocation for the outgoing year.
The defense budget for last year made up nearly 1.7pc of the GDP and 12.5pc of the total expenditure planned by the government over the next year.
In 2022-23, Rs1.57tr was allocated for defense affairs and services. However, it was later revised higher to Rs1.59tr.
Muhammad Aurangzeb Finance Minister has presented the Federal Budget 2024–25 worth Rs18.887 trillion as the National Assembly session kicked off after a delay of around an hour amid loud opposition protest.
The members of the Sunni Ittehad Council (SIC) encircled the NA speaker’s dice and raised slogans against the government’s budget policy. The budget copies reached Parliament and were placed at each member’s designated seat.
The federal cabinet approved the budget for the financial year 2024-25. In the cabinet meeting, the package for farmers, youth, and industries was also approved
Sources claimed that the PM also approved the increase of 25 percent increase in the salaries and pensions of grades 1 to 16 and while 20 percent hike for grade 17 to 22 government officers.
