National Treasury Cabinet Secretary Ukur Yatani will be making his way to the Parliament later this afternoon to present the biggest budget ever read in Kenya.
Reports have indicated that the 2021/2022 budget figures stand at 3.6 Trillion up from last year’s budget figures of 2.9 trillion shillings.
In Ukur Yatani’s proposed budget the three arms of the Government that is the Executive, legislature and Judiciary have been allocated sh1.879 trillion, sh37 billion and sh17 billion respectively.
The biggest budget in the history of Kenya will be focusing on the economic recovery measures the Covid-19 pandemic has caused and the Big Four Agenda.
The CS told newsrooms that the ministry has allocated sh26.6 billion on Post-Covid 19 economic recovery programs and sh135.5 billion on the Big Four Agenda fronted by President Uhuru Kenyatta.
“In preparing the estimates we have been very alive to the current challenges of the ongoing pandemic while ensuring that we continue on a steady path of economic recovery” Stated CS Treasury Ukur Yatani.
Out of the 3.6 Trillion budget that will be tabled today in parliament today, sh2 trillion will come from the proceeds of the Government revenue, and there will be a deficit of sh1 trillion which the treasury plans on borrowing in order to have the math’s tally.
To realize the budget estimate proposals, the Finance Bill 2021 will seek to amend the income tax, exercise duty tax, VAT act, tax procedures act, levies act, miscellaneous fees, capital market act, KRA act, central depositaries act and retirement benefits act.