PTI government freezes the defence budget at Rs 1150 billion
*LAHORE – The Pakistan Tehreek-e-Insaf government on Tuesday unveiled Rs7tr budget for FY20 as its first annual budget in the National Assembly.*
In the budget session, State Minster for revenue Hammad Azhar presented in Parliament the austerity-driven budget for the FY20, which starts from July 1.
The government unveiled *Rs 7,022 billion* for theFY20, setting a growth target of 4 per cent. “Defence budget will remain unchanged at Rs 1*,150 billion* to the level of last year,” he said.
The minister also mentioned that it will in no way impact the defence capability of the country because defence of the country is sacred for the government.
Hammad Azhar said that the outlay of the federal budget for FY 2019-20 is proposed to be Rs7,022billion, which is *30% higher than* the revised outlay of Rs5,385 billion for the outgoing financial year.
The net federal revenues are estimated at Rs3,462 billion during 2019-20 in comparison to the Rs3,070 billion budgeted in the current year, which indicates an increase of 13%. This is expected to produce a federal *budget deficit of Rs3,550 billion*.