Pakistan has presented its budget. Which is half of India’s capital expenditure.
Every Indian in India is curious about Pakistan. Whether it is elections again or budget. Now one must wonder how much poor Pakistan would have kept from its annual budget to run the country. This is also worth thinking about. India will spend on one part of its budget twice as much as Pakistan will spend in a whole year. Talking about numbers, India’s interim budget was also more than 8 times of Pakistan’s total budget. India’s budget is coming in the last week of July. In which more than the interim budget can be seen. Let us also tell you what is Pakistan’s total budget. Also, where is India going to spend twice the total budget of Pakistan as per the interim budget?
How much will Pakistan’s budget be?
Pakistan’s Parliament on Friday approved a budget of 18,877 billion Pakistani rupees i.e. 5.65 lakh crore Indian rupees for the financial year 2024-25. According to the budget documents, the gross revenue is estimated at Rs 17,815 crore. This includes Rs 12,970 billion of tax revenue and Rs 4,845 billion of non-tax revenue. The share of provinces in federal revenue will be Rs 7,438 crore. The growth target for the next financial year has been set at 3.6 percent. Inflation is estimated at 12 percent, the budget deficit at 5.9 percent of gross domestic product (GDP), and the primary surplus at one percent of GDP.
India’s capital spending doubles Pakistan’s total budget
It is surprising to see the total budget of Pakistan. There was a reason for this too. The Indian government had presented its interim plan on February 1, before the elections, in which the share of capital expenditure was almost double that of Pakistan. This is the reason why the people of India are shocked and also mocked by Pakistan’s budget across the border. India’s share of its capital expenditure in the interim budget was Rs 11.11 lakh crore. Which is almost double Pakistan’s total budget.
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India’s budget is more than 8 times larger
If we talk about the interim budget of India, which is Rs 47 lakh crore. Which is more than 8 times larger than the total budget of Pakistan. By the way, the full budget of India can be seen in the last week of July. In which it is expected that the total budget of India can be Rs 50 lakh crore. In which the value of capital expenditure can be between Rs 12-15 lakh crore. The entire focus of the Indian government is on infrastructure. In such a situation, the Capex of the Government of India can also be seen strong.
The opposition protested in Pakistan
The opposition opposed the budget, calling it an IMF-driven document and harmful to the public. The Finance Bill, which details the government’s expenditure and tax revenues, was tabled in the National Assembly, Pakistan’s parliament, on June 12. Government and opposition MPs discussed various parts of it for several days. Finance Minister Muhammad Aurangzeb moved a motion for the House’s approval, which was duly passed with the support of the Pakistan People’s Party led by former Foreign Minister Bilawal Zardari Bhutto.
The opposition did not like the budget
Opposition leader in the National Assembly Omar Ayub, Pakistan Tehreek-e-Insaf (PTI) president Gauhar Ali Khan and Sunni Ittehad Council leader Ali Muhammad said the concerned persons were not included in the drafting of the bill. Omar Ayub said the Finance Bill has failed to address the significant economic challenges facing the country and has been drafted without proper consultation with various stakeholders. Gauhar Ali Khan said that this bill does not reflect the aspirations of the people and the economic realities of the country. Pakistan, which is facing a liquidity crisis, is in talks with the IMF for a loan of between six and eight billion dollars to address its financial problems.
