No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
No Result
View All Result
No Result
View All Result

Budget 2023-24: View the salient features of Finance Bill presented by Ishaq Dar

Zain Aijaz by Zain Aijaz
June 9, 2023
in Business, Featured
Reading Time: 4 mins read
Budget 2023-24: View the salient features of Finance Bill

Finance Minister Ishaq Dar unveiled the Federal Budget 2023-24. The salient features of budget that he mentioned in hi address in the National Assembly were:

  • Foreign exchange reserves will be improved by increasing remittances.
  • Businesses will be facilitated to provide employment opportunities to the youth
  •  Relief will be given to the poor sections to protect them from inflation
  • The tax rate will be increased on non-filers to bring them under the tax ambit
  • Exemption in sales tax returns will be given in the IT sector
  • In the budget, it has been decided to retain the concessional tax rate of 0.25 per cent for IT exports
  • It is proposed to give concessions to foreign investors in IT exports. In this regard, it has been decided to reduce the rate of sales tax from 15 to 5 per cent
  • The Federal Cabinet approved the Federal Development Program (PSDP) worth Rs 1150 billion rupees
  • Rs 26 billion & 10 crore rupees will be allocated for development projects for Pakistan Atomic Energy
  • Rs 15 crores allotted for Pakistan Nuclear Regulatory Authority
  • Rs 1 billion & 50 crores allocated for Petroleum Division
  • Decision to keep Rs 24 billion & 89 crores for planning division, Rs 50 crores for poverty alleviation and social protection
  • Next year, 250 mini sports complexes will be built in the country, the project will cost Rs 12 billion
  • 60 mini sports complexes will be constructed in 36 districts of Punjab
  • Plan to build 50 mini sports complexes in 34 districts of Khyber Pakhtunkhwa
  • Plan to build 40 mini sports complexes in 29 districts of Sindh
  • 30 mini sports complexes will be constructed in 33 districts of Balochistan.
  • Plan to build 70 mini sports complexes in Islamabad, Azad Kashmir and Gilgit-Baltistan
  • Sports facilities will also be provided in 10 tribal districts merged in Khyber Pakhtunkhwa

View of budget 2023-24 in terms of sectors

Sector-wise a detailed overview of the budget is as follows:

  • Rs 5 billion & 45 crore rupees approved for development projects for aviation
  • Rs 1 billion & 11 crore rupees s approved for the investment board under PSDP
  • Development projects worth Rs 90 billion & 12 crore rupees approved under cabinet division
  • Rs 4 billion & 5 crore for climate change division
  • Rs 1 billion & 10 crore for commerce division
  • Rs 3 billion & 40 crore for defence division
  • Rs 2 billion budget for defence production division approved
  • Rs 84 crores for establishment division
  • Rs 3 billion & 22 crores for finance division approved in PSDP.
  • The Ministry of Education and Professional Training will spend Rs 8 billion & 50 crores for development projects
  • Rs 60 billion & 90 crore for Azad Jammu and Kashmir
  • Rs 57 billion for merged districts.
  • Rs 59 billion & 71 crore for Higher Education Commission
  • Rs 36 billion & 70 crore for Housing and Works.
  • Rs 81 crore will be allocated to the Human Rights Division
  • Rs 3 billion for the Ministry of Industry and Production
  • Decision to allocate Rs 2 billion for Information and Broadcast Division,
  • Rs 6 billion for Information Technology
  • Rs 1 billion & 90 crores will be kept for the Ministry of inter-provincial communication
  • Rs 9 billion & 95 crores will be kept for the Ministry of interior.
  • Rs1 billion & 40 crores will be allocated for law enforcement departments
  • Rs 3 billion & 30 crores will be allocated for maritime affairs.
  • Rs 15 crore for narcotics control division
  • Rs 8 billion & 85 crore for national food security
  • The decision to allocate Rs 13 billion & 10 crores to the Ministry of Health
  • Rs 54 crores to the National Heritage and Culture Division.
  • Decision to keep Rs 24 billion & 89 crores for planning division
  • Rs 50 crores for poverty alleviation and social protection
  • Rs 33 billion rupees for railway division
  • Ministry of Religious Affairs will receive Rs 80 crore
  • Rs 3 billion & 20 crore for revenue division
  • Rs 8 billion allocated for science and technology research
  • Rs 107 billion will be allocated to the Ministry of Water Resources
  • Rs 6 billion 90 crore for SPARCO
Zain Aijaz

Zain Aijaz

Zain is a media student and a writer by passion. He is a certified creative writer from Wesleyan University and enthusiastically writes on non-fiction and political satire. He is vastly experienced in the field of theatre and has served as a theatre mentor across different institutions. Currently, he is a contributor at The Upcut and can be reached at zainaijazdehlvi@gmail.com

Related Posts

PIA privatisation plan & options
Featured

PIA privatisation: federal government decides to form feasible plan

September 28, 2023
Rocket launcher shell explosion kills 8 people
Featured

Rocket launcher shell explosion in Kandhkot tehsil kills 9 people

September 27, 2023
Ogra says to avoid speculations on petroleum prices
Featured

Avoid speculations on petroleum prices as it could disrupt oil supply chain, states Ogra

September 26, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

#GhoomoPakistan amasses 2.3 billion views

#GhoomoPakistan: TikTok’s initiative to showcase Pakistan tourism amasses 2.3 billion views

by Web Desk
September 28, 2023

TikTok's #GhoomoPakistan initiative, launched to showcase Pakistan's hidden treasures, rich culture and stunning landscapes, has concluded with resounding success, amassing...

Civil lawsuit by Letitia James

Civil Lawsuit by Letitia James: NY court finds Trump liable for fraud

by Zain Aijaz
September 27, 2023

NEW YORK: The New York state court in Manhattan has found Donald Trump and his family business liable for fraud...

EBM & SoL inspire youth in Young Leaders Conference

EBM & SoL inspire youth with 100 “ Leaders of Change” Stories at 22nd Young Leaders Conference

by Web Desk
September 27, 2023

KARACHI: English Biscuit Manufacturers (EBM) brought together future leaders for the 22nd time with the Young Leaders Conference. This edition...

YouTube discontinuing Premium Lite

YouTube discontinuing its low-cost subscription plan, Premium Lite

by News Desk
September 26, 2023

YouTube has decided to discontinue its low-cost subscription plan - Premium Lite after two years. This means that after October...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut

Copyright © 2022 The Upcut. All rights reserved.

Go to mobile version