Defence spending for the first nine months of the current fiscal year has surpassed 1 trillion rupees, according to the Finance Ministry Revenue and Expenditure Report. With a total of more than Rs 6,978 crore in expenses and Rs 3,543 crore in earnings, the federal government's budget deficit has reached Rs 3,534 crore. The amount spent on loan repayments and interest from July 2022 to March 2023 was Rs. 3,582 crore. Comparing the current financial year to the previous one, interest and loan payments increased by Rs. 1,464 crore.
The revenue and expenditure report of the Finance Ministry shows that the government spent over Rs486 billion on pensions during the first nine months of the current fiscal year, while also spending over Rs524 billion on subsidies. Tax revenue was Rs. 5,156 billion while non-tax revenue came to Rs. 1,240 billion over the same time period, according to the Federal Board of Revenue. A Rs456 billion surplus in the provincial budget was maintained. The government did however borrow an additional Rs3,078 billion in loans to make up the difference.
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