Get Annual Budget Statement 2021-2024

HHS proposes $127.3 billion in discretionary and $1.7 trillion in mandatory budget authority for FY 2023.

Receipts (excluding borrowings) in 2022-23 are estimated to be Rs 22,83,713 crore, an increase of 4.8% over the revised estimates of 2021-22. Gross tax revenue is budgeted to increase by 9.6% over the revised estimates of 2021-22, which is lower than the estimated nominal GDP growth of 11.1% in 2022-23.

In the long-term, the Pakistan Government Spending is projected to trend around 4033893.00 PKR Million in 2024 and 4191215.00 PKR Million in 2025, ing to our econometric models.

Key Highlights of Federal Budget 2022-23 The federal budget for FY 2022-23 was presented with an outlay of PKR 9.5 trillion. Here's a quick look at what it entails: Salaries of the government employees are to be increased by 15%. There would be no tax for individuals who are earning up to PKR 100,000 per month.

Submission of Annual Budget Statement is governed by Article 120 of the Constitution of the Islamic Republic of Pakistan. It is a statement of estimated receipts and expenditures of the Provincial Government for a financial year; and, is a summary of the budget estimates.

Pakistan's National Assembly passed the tax-loaded mini-budget — the Finance (Supplementary) Bill 2023 — on Monday. The Bill aims to raise Rs 170 billion in taxes by June this year as part of conditions by the International Monetary Fund (IMF).

Annual budget can be described as a plan laid out for a company's expenditures for a financial year. Laying down an annual budget helps companies balance out the expenditure with the income/revenue they are looking at for the year. A budget is said to be in balance if the revenue is equivalent to the expenditure.

In CBO's projections, federal outlays total $6.2 trillion, or 23.7 percent of GDP, in 2023. They remain below 24.0 percent through 2028 and grow each year thereafter, totaling 24.9 percent of GDP in 2033.