BUDGET
To spend 19 paise of every rupee earned on interest payments
This story was originally published at 18:14 IST on 23 July 2024
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NEW DELHI - The Indian government will spend 19 paise of every rupee it earns in 2024-25 (Apr-Mar) to pay interest on past borrowings.
According to the Union Budget for 2024-25, presented in the Lok Sabha today, the government will spend another 4 paise of every rupee earned on pensions and 6 paise on subsidies.
The following table details where the rupee comes from and where it is spent.
RUPEE EARNED
Borrowing and other liabilities | 0.27 |
Corporation tax | 0.17 |
Goods and services tax | 0.18 |
Income tax | 0.19 |
Non-tax revenue | 0.09 |
Excise | 0.05 |
Non-debt capital receipts | 0.01 |
Customs | 0.04 |
TOTAL | 1.00 |
RUPEE SPENT
States' share of tax and duties | 0.21 |
Interest payments | 0.19 |
Central sector schemes | 0.16 |
Finance Commission and other transfers | 0.09 |
Other expenditure | 0.09 |
Centrally sponsored schemes | 0.08 |
Defence | 0.08 |
Subsidies | 0.06 |
Pensions | 0.04 |
TOTAL | 1.00 |
End
Reported by Shubham Rana and M.C. Adhiinthran
Edited by Rajeev Pai
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