Budget 2024-25
40% increase in budget for BISP A few days ago, the government of Pakistan presented the annual budget for 2024-25. In this budget 2024-25, various measures have been taken for the betterment of Pakistan. The main objective of presenting this budget out of the economic crisis is the eradication of poverty in Pakistan.
Providing employment to the unemployed, expanding the use of IT technology, increasing agricultural production in Pakistan by using new technology in the agricultural sector, and strengthening the defense sector of Pakistan, steps have been taken to improve this budget. Health, such as lower taxes on medicines and providing treatment to the poor. The FY 2024-25 budget has introduced better measures for SMEs to make it easier for us to do small business.
Good steps have also been taken to further develop the industrial sector so as to increase Pakistan’s exports. Salaries of government employees have been increased, pensions of retired employees have also been increased. Many measures have been taken in this budget to improve education. The amount given to the poor and unemployed under the BISP program has also been increased to 60 billion.
Budget- BISP scheme 2024-25
The Benazir Income Support Program is a flagship program of the Government of Pakistan to combat poverty in Pakistan. Many schemes are running in Pakistan under BISP 8171 programme. The aim of which is to reduce poverty in Pakistan and end unemployment in Pakistan. In the 2024-25 annual budget, the Benazir Income Support Program has been increased in its budget to further expand it.
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So that more and more poor people in Pakistan can benefit from this program. The allocation for the BISP program has been significantly increased by Rs 60 billion in this year’s budget 2024-25 (about 25% budget increase for BISP) as compared to last year’s budget 2023-24. Which is the best initiative taken by the present government for the poor. Pakistani people
Implications of the Budget Increase
The increase in the budget for BISP will have several implications for the program and its beneficiaries. Let’s explore some of the key implications:
1. Expanded Coverage
Budget
The budget increase will allow BISP to expand its coverage and reach a larger number of deserving households. This means that more families living below the poverty line will be able to benefit from the program’s financial assistance. The expansion of coverage will help in reducing poverty and improving the overall well-being of the vulnerable population.
2. Increased Financial Assistance
With the budget increase, BISP will be able to provide higher financial assistance to its beneficiaries. This will help in meeting the basic needs of the households, such as food, education, healthcare, and housing. The increased financial assistance will play a crucial role in improving the living conditions of the beneficiaries and uplifting them out of poverty.
3. Enhanced Program Effectiveness
The budget increase will also contribute to enhancing the effectiveness of the BISP program. It will enable the program to invest in better infrastructure, technology, and human resources. This, in turn, will lead to improved program management, efficient disbursement of funds, and better monitoring and evaluation mechanisms. The enhanced effectiveness of the program will ensure that the financial assistance reaches the intended beneficiaries in a timely and transparent manner.
Importance of BISP Budget 2024-25
40% increase in budget for BISP A few days ago, the government of Pakistan presented the annual budget for 20
The Benazir Income Support Programme holds immense importance in the context of poverty alleviation and social welfare in Pakistan. Here are a few reasons why BISP is crucial:
1. Poverty Alleviation
BISP plays a vital role in alleviating poverty by providing financial assistance to vulnerable households. It helps in reducing the income gap and improving the living conditions of the poorest segments of society. The program aims to empower the beneficiaries and enable them to break the cycle of poverty.
2. Women Empowerment
BISP focuses on women as the primary recipients of financial assistance. This approach promotes women’s empowerment by giving them control over financial resources. It helps in improving gender equality, enhancing women’s decision-making power, and enabling them to contribute to the economic development of their families and communities.
3. Social Stability
By providing financial assistance to vulnerable households, BISP contributes to social stability in the country. It helps in reducing the economic disparities and addressing the social and economic challenges faced by marginalized communities. The program plays a crucial role in promoting social cohesion and inclusivity.
Conclusion
The 40% budget increase for BISP in the fiscal year 2024-25 is a significant step towards addressing poverty and improving the lives of vulnerable households in Pakistan. The increase in coverage and financial assistance, along with enhanced program effectiveness, will have a positive impact on poverty alleviation and social welfare. BISP continues to be an important initiative in the country’s efforts to build a more inclusive and prosperous society.