Govt budget likely to expand to Rs17tr in FY25

MG News | May 13, 2024 at 11:25 AM GMT+05:00

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May 13, 2024 (MLN): The federal government’s total expenditure size for fiscal year 2024-2025 is expected to be around Rs17 trillion, according to sources.

On the revenue front, the federal tax revenue is projected to exceed Rs11.2tr, with non-tax revenue estimated at about Rs2.1tr.

Additionally, sales tax is expected to amount to Rs3.9tr, while the petroleum levy could contribute more than Rs1.05tr, sources said.

The Federal Excise Duty is estimated at Rs680 billion.

Meanwhile, the government is expected to allocate Rs9.5tr for loans and interest payments in FY25, while subsidies for the energy sector are estimated at Rs800bn, sources revealed.

Preparations are underway to present the federal budget for the upcoming fiscal year 2024-25 in Parliament on June 07, 2024.

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