The budget allocated to the Prime Minister’s House has seen an increase of Rs 260 million, reaching a total of Rs 1.2 billion for the upcoming fiscal year. This marks a significant rise compared to the previous fiscal year, where the budget for the PM House was Rs 993 million. However, it is worth noting that the expenses of the PM House have exceeded the allocated budget by Rs 10 million, with an estimated expenditure of Rs 480 million by the end of this year. The total budget for public expenses related to the PM House is set at Rs 630 million.

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These figures were revealed as Federal Minister for Finance and Revenue, Senator Ishaq Dar, presented the federal budget for the Fiscal Year 2023-24, with a total outlay of Rs 14.5 trillion. The budget aims to address various aspects of the country’s economy and development, with a focus on sustainable growth rather than election-driven priorities.

The projected GDP growth for the next year has been set at a modest 3.5 percent. According to Dar, the budget emphasizes the real economy and is designed to foster long-term economic stability. The estimated total expenses for the budget are set at Rs 14.46 trillion, out of which Rs 7.3 trillion will be allocated to interest payments. The projected budget deficit stands at 6.54 percent, while the primary balance is expected to have a surplus of 0.4 percent of GDP.

In terms of tax collection, the Federal Board of Revenue (FBR) aims to collect Rs 9.2 trillion for the FY 2023-24, with the provincial share amounting to Rs 5.276 trillion. These revenue targets will play a crucial role in supporting the government’s initiatives and meeting the financial requirements outlined in the budget.