Advertisement

Help
You are here: Rediff Home » India » Business » Budget 2008-09 » Report
Search:  Rediff.com The Web
Advertisement
  Discuss this Article   |      Email this Article   |      Print this Article

Where rupee comes from, where rupee goes
 
 · My Portfolio  · Live market report  · MF Selector  · Broker tips
Get Business updates:What's this?
Advertisement
February 29, 2008 14:59 IST

For every rupee that the government will spend next fiscal, 21 paisa goes toward interest payments, followed by 19 paisa each for plan and allocation to states for their share of taxes and duties.

Income tax has shown the steepest increase in the revenue rupee accounting for 15 paisa, up from 13 paisa now, thus reflecting the much-higher level of earnings by individual taxpayers.

Likewise, corporation tax will account for 24 paisa of each revenue rupee, up from 21 paisa now, reflecting the buoyancy in tax collection. The borrowing will thus account for a lesser share of 14 paisa as compared to 19 paisa in the previous Budget.

On the expenditure side, the defence would account for 11 paisa of each rupee, down from 12 paisa now, whereas the subsidies will account for one paisa more at 8 paisa.

The expenditure on central plan would also be one paisa less at 19 paisa per revenue rupee in the coming year, whereas other non-plan expenditure would be curtailed to 10 paisa as against 11 paisa provided for in the last Budget.

Non-debt capital receipts will account for two paisa of each revenue rupee for the government, up from one paisa now.

Non-tax revenue remains the same at 10 paisa for each rupee revenue, as also service tax and other taxes that remain unchanged at 7 paisa.

On the expenditure side, non-plan assistance to state and union territories would remain at the level of 5 paisa. State and union territory plan assistance also is kept unchanged at 7 paisa for each rupee spent.

Excise would account for 15 paisa of each revenue rupee, down from 17 paisa now, while customs would account for 13 paisa up from 12 paisa now of revenue rupee.

 

Your Budget search made easy!




© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

  • Great books on the Budget. Click here!
  • Budget for some good karma, this year
     Email this Article      Print this Article

    © 2008 Rediff.com India Limited. All Rights Reserved. Disclaimer | Feedback