Budget 2024: Where does the rupee come from and where does it go, see the complete account of the budget

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The Narendra Modi government at the Center has increased the size of the budget by 6.1 percent to Rs 47.66 lakh crore in the financial year 2024-25. Finance Minister Nirmala Sitharaman presented the interim budget in the Lok Sabha on Thursday. The Finance Minister said, according to the revised estimates, the total receipts other than borrowings are likely to be Rs 27.56 lakh crore. Tax receipts in this are Rs 23.24 lakh crore. The revised estimate of total expenditure is Rs 44.90 lakh crore. Let us know the complete account of the budget. For example, from where will the government earn and where will it spend?

Where will the money come from? If the government earns one rupee, see here from where and how much it will earn.

• Borrowings and other liabilities – 28 paise

• Income tax – 19 paise

• GST and other taxes – 18 paise

• Corporation tax – 17 paise

• Non-tax receipts – 7 paise

• Central excise duty – 5 paise

• Custom duty – 4 paise

• Non-debt capital receipts – 1 paisa

where will the government spend

If the government earns one rupee, 20 paise will be spent in paying interest on it. Whereas the government will distribute 20 paise to the states. 16 paise will be spent on central schemes and 8 paise will be spent on centrally sponsored schemes. Where and how much will the government spend? See Nazar.

• Interest – 20 paise

• State share of taxes duties – 20 paise

• Central schemes – 16 paise

• Centrally Sponsored Schemes – 8 paise

• Finance Commission and other transfers – 8 paise

• Defense – 8 paise

• Subsidies – 6 paisa

• Pension – 4 paise

• Other expenses – 9 paise

Avoiding ‘populist’ announcements in the interim budget, emphasis on next generation reforms

Finance Minister Nirmala Sitharaman avoided announcing populist schemes in the interim budget presented before the elections and pledged to rapidly pursue next generation reforms to boost economic growth. Apart from this, he has also kept the direct and indirect tax rates unchanged, that is, there has been no change in the income tax slab in any way. In his budget speech of about an hour, he highlighted various achievements of the government in the last 10 years and announced measures to promote tourism, housing and renewable energy.

No change in allocation for MNREGA

Sitharaman has proposed an eight percent reduction in food, fertilizer and fuel subsidies in the budget in 2024-25 as compared to the previous year. Also, there was no change in the allocation for Rural Employment Guarantee Scheme MNREGA.

Spending on infrastructure like roads, ports and airports Rs 11.11 lakh crore

In order to maintain the pace of economic growth and create more jobs, expenditure on infrastructure like roads, ports and airports has been increased by 11 percent to Rs 11.11 lakh crore.

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