Tag: Budget

Rs18 Trillion Federal Budget to Be Unveiled TodayGovernment Focuses on Fiscal Consolidation to Contain Deficit

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budget-2425

ISLAMABAD: Finance Minister Muhammad Aurangzeb is set to present an Rs18 trillion federal budget for the fiscal year 2024-25 in the National Assembly today. Official sources indicate that the budget will emphasize fiscal consolidation to manage the budget deficit. Key objectives of the budget include addressing public issues, transforming the agriculture sector, promoting information technology (IT), boosting exports, fostering industrial growth, and supporting businesses. The budget formulation took into account the current economic challenges both domestically and internationally. On the revenue front, the government is expected to set a revenue…

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Budget Taxes Revival & Growth

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budget

Fiscal consolidation should be as growth-friendly as possible. In general, tax base-broadening reforms are identified as growth-oriented reforms. To the extent that they reduce distortions to economic decisions on work, saving, investment and consumption, they should increase output and improve social welfare — Choosing a Broad Base–Low Rate Approach to Taxation, OECD Tax Policy Studies No. 19

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