KUALA LUMPUR, Oct 13 — Almost eight months after Prime Minister Datuk Seri Anwar Ibrahim tabled his first federal budget since coming into power, today's tabling of Budget...
As Anwar's government seeks to rationalise existing subsidy spending with the intention of consolidating the country’s fiscal position, Budget 2024's amount is over RM7.66 billion than the one tabled last February. — Bernama picKUALA LUMPUR, Oct 13 — Almost eight months after Prime Minister Datuk Seri Anwar Ibrahim tabled his first federal budget since coming into power, today's tabling of Budget 2024 will be the government's biggest federal spending yet at RM393.
The sum earmarked for development spending , however, is far smaller by about RM6.5 billion than February's RM96.5 billion, with around RM90.1 billion or 22.9 per cent from the overall spending allocated under Budget 2024.Budget 2024's devex allocations are channelled into four formal sectors; namely economy , social , security and general administration .
Almost half of Budget 2024's revenue is derived from income tax collection, constituting 44.4 per cent or around RM174.8 billion.Allocation for emoluments, usually the largest component in operating spending , is projected to take up to 24.3 per cent of total expenditure.
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