Press Esc to close
Wednesday 22 October 2014
News updated at 2:50 AM IST
Weather
Max: 25.4°C
Min : 20.2°C
In Bangalore
Sunny day

18 paise out of each rupee to go for interest payment in FY'14

New Delhi, Feb 28, 2013 (PTI)

For every rupee the government proposes to spend in 2013-14, as much as 18 paise will go for paying interests.

As per Budget 2013-14, presented by Finance Minister P Chidambaram in Parliament today, Central Plans expense will see a slight decline at 21 paise out of the total expenditure, from the provision of 22 paise in 2012-13.

At the same time, Other Non-Plan Expenditure is expected to account for 11 paise of every rupee spent by the government in 2013-14, while States' Share of Taxes and Duties will amount to 17 paise of every rupee earned.


Indicating that the burden of subsidies would go up next fiscal, the government has budgeted 12 per cent of the total expenditure on this account from 10 paise a year ago.
Defence would consume 10 paise for every rupee spent, slightly lower than 11 paise in the current year's budgetary provision.

Plan Assistance to States and Union Territories has been retained at seven paise.
On the income side, the government has proposed 27 paise to come from Borrowings and other Liability for every rupee in its kitty in 2013-14.

As single largest source of revenue income, collection from Corporate Tax has been retained at 21 paise, indicating the sluggish growth in the industry.

Income Tax, on the other hand, will account for 12 paise, as against 11 paise in 2012-13.
The government also expects revenue collection from Service Tax and Others category to go up to nine paise, as against seven paise in 2012-13.

Besides, it plans to mop up nine paise each from collection of Non-Tax and Customs Tax revenues, 11 paise from Union Excise Duties. The remaining three paise will come from Non-Debt Capital receipts.

Go to Top

Photo Gallery
A major fire that broke out in the crackers market in Faridabad...

A major fire that broke out in the crackers market in Faridabad...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Woman buying earthen lamps at a market ahead of the Diwali festival...

Woman buying earthen lamps at a market ahead of the Diwali festival...

School children paint their faces during Diwali celebrations...

School children paint their faces during Diwali celebrations...

A huge rangoli in front of Swaminarayan Temple...

A huge rangoli in front of Swaminarayan Temple...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

TRS activists set affire chairs at the TDP office in Nalgonda...

TRS activists set affire chairs at the TDP office in Nalgonda...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523