New Delhi: 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 per cent of the resources next fiscal, as opposed to 71 per cent, is proposed to be raised by receipts, and 27 per cent by borrowings, against 29 per cent 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 per cent of the money is proposed for states and union territories, against 27 per cent in the revised estimates of the current fiscal.