Karachi: Budget volume in the next fiscal year is expected to be Rs4.4 trillion, in which Rs1.6 trillion would be allocated for provinces, according to budget papers.
According to ministry of finance budget papers, size of total economy could be expanded to around $23.9 trillion. Moreover, Rs933 billion would be spent in terms of debts and interests.
According to the papers, budget deficit for federation would be Rs1.015 trillion, however, Rs110 billion would be pitched in by the provinces as a surplus budget to lessen the overall deficit.
Defence budget would be expected to set at Rs545 billion. Tax income of Federal Board of Revenue (FBR) would be Rs2.4 trillion, while non-tax income of federation would be Rs552 billion.
Rs1.503 would be given to provinces from tax revenue under the National Finance Commission Award.
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