For every rupee in govt kitty, 53 paise to come from taxes
PTI, Feb 1, 2021, 3:08 PM IST
Source: Unsplash
New Delhi: For every rupee in the government coffer, 53 paise will come from direct and indirect taxes, 36 paise from borrowings and other liabilities, 6 paise from non-tax revenue like disinvestment and 5 paise from non-debt capital receipts.
According to the Union Budget 2021-22 presented in Parliament by Finance Minister Nirmala Sitharaman on Monday, goods and services tax will contribute 15 paise in every rupee revenue, while corporation tax will contribute 13 paise to each rupee earned.
The government is also looking to earn 8 paise for every rupee from Union excise duty and 3 paise from customs duty. While, income tax will yield 14 paise to every rupee collection.
The collection from borrowings and other liabilities will be 36 paise, as per the Budget 2020-21.
On the expenditure side, the biggest outlay component is interest payments at 20 paise for every rupee, followed by the states” share of taxes and duties at 16 paise.
Allocation for the defence stood at 8 paise.
Expenditure on central sector schemes will be 14 paise, while the allocation for centrally-sponsored schemes will be 9 paise.
The expenditure on the Finance Commission and other transfers is pegged at 10 paise. Subsidies and pension would account for 8 paise and 5 paise, respectively, in each rupee spending.
The government will spend 10 paise in every rupee on other expenditures
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Assam: Hailakandi dist admin selects sparrow as mascot of voter awareness programme
Delhi CM approves constitution of own school board
SC to commence hybrid physical hearing of cases from March 15
Raped 27 years ago, woman files case against 2 after son asks father’s name
62-yo Rajasthan BJP MLA appears for BA exam
MUST WATCH
Opposition is conspiring against us: Bhyrathi Basavaraj
Mangaluru: Jewellery store owner chases, nabs man who fled with gold ring
Mangaluru; Police arrested four students for ragging junior students
Mangaluru: Rear axle of car breaks away in collision
Mangaluru: police arrested three students in connecting with ragging junior students
Latest Additions
Assam: Hailakandi dist admin selects sparrow as mascot of voter awareness programme
Opposition is conspiring against us: Min Byrathi
England totter to reach 91 for 6 at tea, India on course for WTC final
Udupi: ‘Pustakotsava’ sees mass footfall; books worth Rs 1.4L sold on 1st day
Delhi CM approves constitution of own school board