Current Affairs in Pakistan

Federal Budget 2023-24 Date and Complete Details All You Need to Know

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Federal Budget 2023-24 Date and Complete Details All You Need to Know about the Federal Government of Pakistan Budget 2023-24. The Federal Govt of Pakistan is going to announce Federal Budget 2023-24 expectedly on June 09, 2023. Everyone is hoping for the Best Budget for the Coming Finacial Year 2023-24.

Federal Government has approved 31% increase in the Development Budget for Financial Year 2023-24. To discuss the Upcoming Budget National National Economic Council Meeting is Scheduled on 06th June 2023. In NEC Meeting Federal Development Plan and Public Sector Development Program. Prime Minster Shahbaz Sharif will preside over the Meeting of NEC.

Key Facts of Federal Budget 2023-24:

The Total Outlay of the Federal Budget for 2023-24 is expected to be 16,600 Billing or 16.6 Trillion. Which is 57.8% (7.1 Trillion) higher than the Fiscal Year 2023-23 Budget.

Salary Increment in Federal Budget 2023-24:

The Federal Government Plans to announce 20% Salary increase for Federal Government Employees and 15% increase in pension. Employees are Demanding 50 percent Increase due to Current Inflation Situation in Pakistan. It may not help Federal Government Employees to Catch up with an Inflation Rate of 40%.

PSDP and Development Funds in Budget 2023-24:

The Public Service Development Program  (PSDP) and Development Budget is estimated at Rs. 950 Billion. Its Higher than the Current Financial Year 2022-23 Budget of Rs. 800 Billion. Its 18.75 percent higher than the Financial Year 2022-23.

Budget Proposals 2023-24 by FBR:

Federal Board of Revenue has also shared the proposals for Budget 2023-24.

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