The country’s general budget is going to be presented in the country today. In such a situation, every citizen of the country has expectations from the budget according to their needs. Like every time, this time too, the government is going to spend a lot of money on various sector schemes, the question often arises in the minds of the people in the midst of this whole math, from where does the government bring so much money, who is the source of government’s earnings.
Where does the big budget money come from
Let us tell you that the government decides the expenditure for the whole year through the budget, how much money the government will give to the various schemes throughout the year and this time, whose plan will be given less money or it tells about all these in the budget. The size of the budget presented last year was 30 lakh crores, now the question will be arising in the minds of people that how such a huge amount came to the government, let us tell you how the government collects so much money.
Also Check: Budget 2021: Employees doing Work From Home can get this gift in Budget 2021
Understand from 1 rupee arithmetic
Suppose the total value of the rupee received by the government is one rupee, then we will explain to you through which the government receives this one rupee. By the way, the bulk of the government’s income comes from revenue and tax and the other part comes from borrowings and liabilities. Apart from this, how much percentage is received from him, understand here
Lending and other liabilities – 20 paise
Corporation tax – 18 paise
Income tax – 17 paise
Customs – 4 paise
Central Excise – 7 paise
GST and other taxes – 18 paise
Various revenue tax – 10 paise
6 paise from capital income other than debt
In this way the government receives one rupee. There can be a lot of it here and there but most of it comes from this. Apart from this, we want to explain the account of how the government spends the money earned, as a part of 1 rupee, we want to tell how the government gives its funds and decide for it. What is the share.
Interest payment – 18 paise
Central Sector Schemes – 13 paise
Finance Commission and other transfers – 10 paise
States’ share in taxes and duties – 20 paise
Centrally Sponsored Schemes – 9 paise
Subsidy – 6 paisa
Defense sector – 8 paise pension – 6 paise
