Union Finance Minister Nirmala Sitharaman on Wednesday presented the "first budget in Amrit Kaal", her fifth straight budget, and last full Budget of the second term of the BJP-led NDA government ahead of the general elections in 2024.
Along with several shake-ups to the new tax regime, the Budget raised the personal income tax rebate limit, doled out sops on small savings, and announced one of the biggest hikes in capital spending in the past decade.
But where is India getting all its cash from? DH brings you the numbers:
Where does the rupee come from?
As per the the Union Budget 2023-24 presented by Sitharaman, borrowings and other liabilities will contribute 34 paise of every rupee of the total income. Meanwhile, the goods and service tax (GST) and other taxes will contribute 17 paise for every rupee.
Corporation tax and income tax will contribute 15 paise each while non-tax receipts contributes 6 paise.
Customs will contribute 4 paisa for every rupee while non-debt capital receipts will contribute only 2 paisa for every rupee.
Where does the rupee go?
The Budget shows that 20 paisa out of every rupee spent will be used for interest payments. 18 paisa of every rupee will be used for States Share of Taxes duties and 17 paisa will go to central sector schemes.
Nine paisa each is allocated for the Finance Commission and other transfers and centrally sponsored schemes.
Defence expenditures will receive 8 paise each while subsidies will receive 7 paisa each. Finally, pensions will receive only 4 paisa for every rupee.
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