New Delhi, Feb 28 (IANS) Here’s a look at where Finance Minister Pranab Mukherjee expects the money to come from to fund his Rs.12.58 lakh crore (Rs.12.58 trillion or $280 billion) federal budget:
Rupee Comes From (Previous year figure in brackets)
– Borrowings: 27 paise (29 paise)
– Corporate tax: 23 paise (23 paise)
– Income tax: 11 paise (9 paise)
– Excise duties: 11 paise (10 paise)
– Customs: 10 paise (9 paise)
– Non-tax revenue: 8 paise (11 paise)
– Service tax: 6 paise (6 paise)
In other words, 73 percent of the resources next fiscal, as opposed to 71 percent, is proposed to be raised by receipts, and 27 percent by borrowings, against 29 percent in the current fiscal.
Rupee Goes To (Previous year figure in brackets)
– Central plan: 22 paise (21 paise)
– Interest payment: 18 paise (19 paise)
– Share of states in taxes: 17 paise (16 paise)
– Defence: 11 paise (11 paise)
– Other non-plan expenditure: 11 paise (13 paise)
– Subsidies: 9 paise (9 paise)
– Plan assistance to states: 7 paise (7 paise)
– Non-plan assistance to states: 5 paise (4 paise)
As much as 29 percent of the money is proposed for states and union territories, against 27 percent in the revised estimates of the current fiscal.
