Saturday, July 20, 2024

Pakistan to Present Rs. 18 Trillion Budget Today

The upcoming budget for the fiscal year 2024-25 is designed with a strong focus on addressing key issues affecting the public, and aims to boost sectors like agriculture, information technology, exports, and industrial growth, according to sources. The government is taking into account both domestic and global challenges to create a budget that is supportive of people’s needs and friendly to businesses.

A major highlight of this budget is the ambitious revenue collection target, set at over Rs12 trillion. This target is based on the robust growth experienced in the outgoing fiscal year, showing the government’s commitment to maintaining and enhancing economic progress.

To achieve these goals, there is close coordination among various government departments and ministries. This collaborative effort ensures that the budget is comprehensive and covers all necessary areas to support the nation’s growth.

One of the key focuses is on agriculture. By investing in this sector, the government aims to increase productivity and sustainability, ensuring food security and supporting farmers. This is crucial, as agriculture plays a significant role in the country’s economy and livelihood of a large portion of the population.

The IT sector is also receiving considerable attention. The government plans to boost this sector through various incentives and support mechanisms, recognizing its potential to drive innovation, create jobs, and contribute significantly to the economy.

Exports are another critical area of focus. By enhancing export capacities and capabilities, the government aims to improve the trade balance and bring in more foreign exchange. This includes supporting industries that have export potential and creating a conducive environment for businesses to thrive in international markets.

Industrial growth is essential for the overall economic development, and the budget includes measures to stimulate this growth. By investing in infrastructure, providing incentives for industries, and fostering a business-friendly environment, the government aims to attract investment and spur industrial activities.

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