Next budget likely to be of Rs4400 billion

KARACHI: The total outlay of the next financial year is expected to center around Rs4400 billion including the allocations for provinces of over Rs1600 billion, according to the budget proposals under consideration, Geo News reported.

According to the budget proposals, the total volume of the economy in next budget could expand up to $23900 billion. Rs933 billion would go away on account of the payment of loans and interests. Besides, Rs115 billion of the federation will be lost for meeting the financial deficit, however the provinces would give Rs110 billion surplus budget for trimming down the total financial deficit. Allocation for the defence is expected at Rs545 billion.

Federal Board of Revenue tax income has been estimated at Rs2400 billion, while federation’s non-tax income at Rs552 billion.

The provinces under National Financial Award (NFC) would be getting Rs1503 billion.