Federal Budget 2025-2024: Over 2 Trillion Rupees Allocated for Defense, Tax Proposals Unveiled

The federal budget for 2025-2024 presented in the National Assembly: More than 2 trillion rupees earmarked for defense, tax rates set to adjust from July 1st. Stay informed about key fiscal developments.
Federal Budget 2025-2024: Over 2 Trillion Rupees Allocated for Defense, Tax Proposals Unveiled

Federal Finance Minister Muhammad Aurangzeb has unveiled the federal budget for the upcoming financial year 2025-2024 in the National Assembly, outlining significant allocations for defense and proposed adjustments in tax rates.
With a total budget of 18,877 billion rupees, the government has allocated over 2 trillion rupees for defense needs, reaffirming its commitment to bolstering national security and defense capabilities.
In his budget speech, Minister Aurangzeb announced proposals to adjust tax rates effective from July 1st. The tax rate for filers is set to increase to 15%, while non-filers will face a tax rate of 45%.
Despite these changes, the income tax exemption threshold will be maintained at 6 lakh rupees, with no proposed increases in taxes for the salaried class. Minister Aurangzeb emphasized the government's efforts to ensure a balanced tax regime that promotes economic growth while safeguarding the interests of taxpayers.
The substantial allocation for defense underscores the government's priority to maintain a robust defense infrastructure and safeguard the nation's sovereignty in the face of evolving security challenges.
As the budget proposals undergo deliberation and scrutiny, stakeholders will closely monitor the implementation of fiscal measures and their impact on various sectors of the economy. The government's commitment to prudent fiscal management and strategic investments will play a pivotal role in steering Pakistan towards sustainable development and prosperity in the years ahead.