For every rupee in government kitty, 64 countries come from taxes

NEW DELHI: for each rupee In the government chest, 64 countries will come from direct and indirect taxes, while the state's share of taxes and tariffs is the main head of expenses that represents 20 percent of total spending, Budget documents showed.

According to the Union Budget 2020-21 presented in Parliament by finance minister Nirmala Sitharaman on Saturday, goods and services tax collections will contribute 18 paise in every rupee revenue.

Corporation tax will contribute 18 paise to each rupee earned.

The collection from borrowings and other liabilities will be 20 paise, while income tax will yield 17 paise to every rupee collection.

Live plus The government intends to earn 10 paise from like disinvestment, 7 paise from Union excise duty, 4 paise from customs duty and 6 paise from non-debt capital receipts out of every rupee collection.

On the expense side, the component with the highest disbursement is the participation of states in taxes and tariffs at 20 countries, followed by interest payments at 18 countries.

The defense allowance has been reduced to 8 paise from 9 paise.

Expenditure on central sector schemes will be 13 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 6 paise and 6 paise, respectively, in each rupee spending.

The government will spend 10 paise on other expenses.