• Wednesday, 24 July 2024
National Treasury CS Njuguna Ndung'u reads the 2024/2025 budget in the National Assembly

National Treasury CS Njuguna Ndung'u reads the 2024/2025 budget in the National Assembly

National Treasury Cabinet Secretary Njuguna Ndung'u on Thursday, June 13, presented the 2024/2025 budget statement at the National Assembly.

While briefing the lawmakers, the CS underscored the government's ambitious plan that triggered the Ksh4 trillion budget allocation for the next fiscal year.

While expounding on the government's plan, the CS proposed an allocation of Ksh377 billion to National Security. 

"These allocations are to the National Police Service, Kenya Defence Forces and the National Intelligence Service," the CS noted.

To step up the fight against crime, the Treasury proposed an allocation of Ksh918 million to the National Forensic Laboratory.

Treasury also proposed the allocation of Ksh500 million for the modernization of KCC facilities. Similarly, a Ksh182.8 million allocation would be made to the Women Enterprise Fund to aid women's enterprises.

"In support of the local manufacturing, the government proposes to allocate Ksh400 million towards the Special Economic Zone in Naivasha," the CS revealed.

"Ksh 36.6 Billion has been allocated towards water and sewerage," the CS added. 

Meanwhile, the CS announced that county governments would receive Ksh400.1 billion as an equitable share for the first time in 12 years.

To scale up the fight against corruption, the CS proposed a Ksh4.2 billion allocation to the Ethics and Anti-Corruption Commission (EACC) and the Office of the Director of Public Prosecutions.

Additionally, Ksh6.9 billion would be allocated to the State Law Office and Ksh8.7 billion to the Office of the Auditor General.

According to CS Njuguna Ndung'u, the government has also proposed an allocation of Ksh656.6 billion towards the Education sector, the allocation includes ksh30 billion to fund Junior Secondary School interns.

In a bid to achieve food security, the government proposed the allocation of Ksh54 billion for the agricultural sector.

In its breakdown, the treasury CS noted that Ksh10 billion would go to fertiliser subsidy and Ksh6 billion to the agricultural value chain.

"The government intends to create an elaborate tax system by expanding the tax base and reducing tax expenditure which stood at 2.9% of Kenya's GDP in the year 2022," CS Njuguna Ndung'u disclosed.

Treasury Cabinet Secretary Njuguna Ndung'u and his team before presenting the budget at the National Assembly. TREASURY

 

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