Ruling Coalition Secures Approval for 2024 Budget

Mar 02, 2024 | News On Japan

TOKYO - The budget committee of the House of Representatives, which continued its deliberations until Saturday, has approved the budget proposal for the fiscal year 2024 in the afternoon with a majority vote from the ruling parties, the Liberal Democratic Party (LDP) and Komeito.

The budget proposal has a general account total of 112.5717 trillion yen, including contingency funds for the reconstruction of the Noto Peninsula earthquake, expansion of child allowances, and budget allocations for strengthening defense capabilities.

The opposition parties opposed the proposal, arguing that the deliberations were insufficient. However, it was approved by a majority vote from the ruling parties.

Following this approval, the budget proposal is expected to be passed in the plenary session of the House of Representatives and then sent to the House of Councillors. Its enactment within the fiscal year is assured according to the provisions of the Constitution.

Source: ANN

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