The government budget balance, also referred to as the general government balance, public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting the budget balance is calculated using only spending on current operations, with expenditure on new capital assets excluded. A positive balance is called a government budget surplus, and a negative balance is a government budget deficit. A government budget presents the government's proposed revenues and spending for a financial year.
A budget is a calculation plan, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities and cash flows. Companies, governments, families, and other organizations use budgets to express strategic plans of activities in measurable terms.
The Government of Pakistan, constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal parliamentary republic consisting of four provinces, two autonomous territories and one federal territory.
The Ministry of Railways is a ministry of the Government of Pakistan tasked with planning, administrating and overseeing government policies for the development of the national rail network, Pakistan Railways. Originally a department of the Ministry of Communications, in May 1974 it formed into an autonomous ministry of the federal government. The ministry headquarters is located at Block D of the Pak Secretariat in Islamabad.
A government budget is a projection of the government's revenues and expenditure for a particular period of time often referred to as a financial or fiscal year, which may or may not correspond with the calendar year. Government revenues mostly include taxes while expenditures consist of government spending. A government budget is prepared by the government or other political entity. In most parliamentary systems, the budget is presented to the legislature and often requires approval of the legislature. Through this budget, the government implements economic policy and realizes its program priorities. Once the budget is approved, the use of funds from individual chapters is in the hands of government ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees and other revenues. State budget expenditures cover the activities of the state, which are either given by law or the constitution. The budget in itself does not appropriate funds for government programs, hence need for additional legislative measures. The word budget comes from the Old French bougette.
The Ministry of Finance is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.
The Ministry of Defence, is an executive ministry of the federal Government of Pakistan, tasked in defending national interests and territorial integrity of Pakistan. The MoD oversees mission execution of its policies and supervises all agencies of the government directly related to the national security and the Pakistan Armed Forces.
The Five-Year Plans for the National Economy of Pakistan, were the series of nationwide centralised economic plans and targets as part of the economic development initiatives, in the Pakistan. The plan was conceived by the Ministry of Finance (MoF), and were studied and developed by the Economic Coordination Committee (ECC) based on the theory of Cost-of-production value, and also covered the areas of Trickle-down system. Supervision and fulfillment of this programme became the watchword of Pakistan's civil bureaucracy since early 1950s.
The Ministry of Finance, Planning and Economic Development (MoFPED) is a cabinet-level government ministry of Uganda. Its mandate is to formulate sound economic and fiscal policies, mobilize resources for the implementation of government programmes, disburse public resources as appropriated by Parliament, and account for their use in accordance with national laws and international best practices. The cabinet minister of finance is Matia Kasaija. MoFPED was created by the 1995 Constitution of Uganda and derives its power from the Constitution and related acts of parliament, including the 2001 Budget Act and the 2003 Public Finance and Accountability Act. The current Director of Economic Affairs in the Ministry of Finance, Planning and Economic Development of Uganda is Lawrence Kiiza.
Public budgeting is a field of public administration and a discipline in the academic study of public administration. Budgeting is characterized by its approaches, functions, formation, and type.
The Pakistan federal budget of 2010–2011 has been prepared in accordance with the budgeting and accounting classification system that has been approved by the Government of Pakistan as an integral part of the New Accounting Model. The three years medium-term indicative budget ceilings for the current and development budgets as approved by the Cabinet were issued to all Principal Accounting Officers of the Federal Government.
The Pakistan federal budget of 2009–2010 has been prepared in accordance with the budgeting and accounting classification system that has been approved by the Government of Pakistan as an integral part of the New Accounting Model. This is the first year the federal budget is being prepared using the newly adopted Medium-Term budgetary Framework (MTBF). Under this method macro projections are made over a rolling 3-year budgetary horizon. This year, expenditure ceilings were issued to Ministries on recurrent budget after Cabinet's approval, in line with the Government's stated priorities.
The Pakistan federal budget of 2011–2012 was presented in the National Assembly with a total outlay of 3.767 trillion rupees for fiscal year 2011–12. The budget was prepared in accordance with the budgeting and accounting classification system approved by the Government of Pakistan as an integral part of the new accounting model. The three year's medium-term indicative budget ceilings were issued to all principal accounting officers of the federal government. A new budget preparation method, called the 'output based budgeting' was introduced, which presented the federal budget by services and effects of services on target population and linked them with performance indicators and targets over the 3-year period. The budget was called 'pro-poor budget' by the parliamentarians.
The Swiss federal budget refers to the annual revenue and expenditures of the Swiss Confederation. As budget expenditures are issued on a yearly basis by the government, the federal council, and have to be approved by the parliament, they reflect the country's Fiscal policy.
The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Malaysia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the Malaysian federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Malaysian federal budget to the Parliament.
The Federal Budget 2013–14 was the federal budget of Pakistan for the fiscal year beginning from 1 July 2013 and ending on 30 June 2014. The budget was presented by Finance Minister Ishaq Dar on 12 June 2013 during a session of the National Assembly. This is the first federal budget presented during the tenure of newly elected Prime Minister Nawaz Sharif and his cabinet since the change of government following the nationwide general elections held in 2013.
The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Somalia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Somali federal budget to the Parliament.
The Punjab Finance Department is a department of the Government of Punjab, Pakistan. It is responsible for supervision and control of provincial finances, preparation of provincial budget, formulation of financial rules and management of public debt. It is headed by a provincial minister with the coordination of a finance secretary.
Muhammad Hammad Azhar is a Pakistani politician from Pakistan Tehreek-e-Insaf. He was elected from NA-126 (Lahore-IV) in 2018 Pakistani general election and remained a member of National Assembly of Pakistan between August 2018 to January 2023. He served in various ministerial positions in Imran Khan ministry between 2018 and April 2022. He served as Energy Minister of Pakistan and Finance Minister of Pakistan between 16 April 2021 to 3 April 2022 and 29 March 2021 to 16 April 2021 respectively.
The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxes and expenditure cuts. The budget was accepted the next day. The Federal Budget entailed the raising of the Petroleum Development Levy (PDL) and lifting of all restrictions on imports. These revisions came after talks between the Prime Minister Shehbaz Sharif and IMF Director Kristalina Georgieva. The total budget outlay (expenditure) of the new budget was Rs14.46 trillion, 51% higher than the previous year. Federal Revenue for the budget was budgeted as Rs12.163 trillion, with Rs5.276 trillion being transferred to the provinces, leading to a net revenue of Rs6.887 trillion, 36.9% higher than the previous year. The FBR's budgetary target was set at Rs9.200 trillion, 23% than last year's target. The fiscal deficit being estimated at Rs6.923 trillion or 6.54% of the GDP. The budget claimed it added no new taxes, no increases in duties on import of essential items, exemptions of custom duties on certain agricultural goods, and an increase in government wages and minimum wage proposals. The budget included funding for a number of development initiatives to increase the nation's economic growth rate. The original outlays for the PDSP being estimated at Rs. 2.66 trillion for the development programme, which included a Rs. 950 billion federal Public Sector Development Programme (PSDP), that was approved by the Annual Plan Coordination Committee (APCC). The PDSP would later be further increased to Rs. 2,709 trillion, with Rs. 1,150 trillion being allocated to the Federal Portion, an increase of 58.2% from the previous budget of the development program. The government claimed to alleviate fiscal restrictions and boost sector growth, setting a GDP growth rate of 3.5 percent. This is despite claims of the government engaging in "poll politics", seen in the large Federal Development Budget. Ishaq Dar stated that “This budget should not be seen as an ‘election budget’ – it should be seen as a ‘responsible budget’" By the end of the financial year, Pakistan's real GDP growth rate was reduced to 0.3 percent.
