In the first quarter of this financial year, the budget deficit was 962 billion rupees, Ministry of Finance

Within the first quarter of this monetary yr, the finances deficit was 962 billion rupees, Ministry of Finance

Pakistan By Oct 26, 2023 No Comments


Islam Abad: Within the first quarter of the present fiscal yr 2023-24, the nation’s finances deficit has been revealed to be 962.801 billion rupees, which has reached 0.9 p.c of the nation’s GDP.

In response to the statistics launched by the Ministry of Finance, Pakistan’s finances deficit in the course of the first quarter of this fiscal yr has been 962 billion 80 crore rupees, which is the same as 0.9% of the nation’s GDP.

It has been acknowledged within the statistics that in the course of the first quarter of the present monetary yr, a complete of 343 billion 680 million rupees have been spent on protection expenditure.

In response to the doc, Pakistan has acquired a complete of 26 trillion 85 billion 75 billion 30 million rupees from federal and provincial governments, which is the same as 2.5 p.c of the nation’s GDP, whereas spending 36 trillion 48 billion 55 million rupees, which is 3.4 p.c of the GDP. are equal to percentages.

Aside from this, in the course of the first quarter, a complete of 1379 billion 61 crore 20 lakhs of rupees have been spent for reimbursement of home and international loans and the curiosity charged on them.

In response to the report out there from the Ministry of Finance, a complete tax assortment of 2041.55 billion rupees has been made by the Federal Board of Income from July to September, of which 934.79 billion rupees had been collected by means of direct tax.

Among the many oblique taxes, a complete of seven trillion 26 billion 94 billion rupees have been collected within the type of gross sales tax, 1 trillion 27 billion 59 billion rupees within the type of federal excise responsibility and a couple of trillion 52 billion 22 billion rupees within the type of customs responsibility.

The doc additional states that in the course of the first quarter of the present monetary yr, 14 billion 86 crore 10 lakh rupees have been collected within the type of stamp responsibility, 8 billion 98 crore 20 rupees within the type of motorized vehicle tax.

In response to statistics, throughout the identical interval, a complete of 286 billion 47 crore 80 million rupees had been spent on growth expenditure, whereas a complete of three trillion 43 billion 680 million rupees had been spent on protection.

In response to the doc, within the interval of three months, below the Public Sector Improvement Program (PSDP), growth bills of 286 billion 47 crore 80 lakh rupees had been made, of which 40 billion 92 crore 50 lakh rupees had been below the federal PSDP, whereas the provincial PSDP Improvement expenditure of 245 billion 55 crore 30 lakh rupees was made below

Aside from this, a complete of 1379 billion 612 million rupees have been spent within the reimbursement of curiosity on home and international loans, which is the same as 1.2% of the GDP.

A complete of 12 trillion 52 billion 27 crore rupees had been spent on curiosity funds on home money owed (debt servicing) and a complete of 137 billion 34 billion 20 lakh rupees had been spent on curiosity funds on international loans.





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