Budget 2018: Of each rupee in govt kitty, 19 paise are from borrowing | Business Standard News–02.02.2018

For every rupee in the government coffer, 19 paise will come from market borrowing and other liabilities in 2018-19, even as it will spent 18 paise towards interest payment.

According to the Budget 2018-19 presented in Parliament on Thursday by Finance Minister Arun Jaitley, 70 paise will come from direct and indirect taxes for every rupee earned.

On the expenditure side, the biggest component is states’ share of taxes and duties at 24 paise and interest payment of 18 paise.

Allocation towards defence has been kept unchanged 9 paise.

As the single largest source of revenue, the collection from Goods and Services Tax (GST) has been pegged at 23 paise as a percentage of every rupee earned.

Similarly, tax mobilisation from corporation tax has been fixed at 19 paise.

ALSO READ: Budget 2018: After all the hype, Jaitley delivers fairly balanced outcome
Income tax mobilisation for the next fiscal has been kept at 16 paise. The government will earn 4 paise from custom in the next fiscal.

The government intends to earn 8 paise from non-tax revenue like disinvestment, while it plans to mobilise 3 paise from non-debt capital receipts.

via Budget 2018: Of each rupee in govt kitty, 19 paise are from borrowing | Business Standard News

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