Nirmala Sitharaman has presented the fifth consecutive budget as the Finance Minister. New advertisements have also been announced by the government during the budget. Talking about the budget, almost every sector has been included in the budget. But do you know from where the money comes to the government and where it is spent. The budget for the financial year 2022-23 was Rs 39.45 lakh crore, let us know from where the money comes to the government and how it is spent.
According to the government statistics, let us tell you that on analyzing the copy of the budget 2022 given by the government, it is known that as people usually money comes to the government mostly through tax and various government funds, which is the biggest source. . Borrowing and loan funds generate revenue. Then there is income from GST and other taxes. The government earns 35 percent of the borrower’s debt.
The government earns from here :
- From Borrowing Loan: 35%
- GST: 16% * From Corporation Tax: 15%
- From Reception: 15%
- From Central Excise: 7%
- Limit Charge: 5%
- Non-taxable income: 5%
If you look at the earnings, the government gets 35 paise from the loan. Then there is GST through corporation tax, income tax, customs duty and other taxes. As mentioned above, the government spends in various departments ranging from revenue to public welfare schemes to budget. With the help of an economist, a figure is prepared that how much fund is required by which sector and which ministry. After this, the budget allocation for various sectors is announced. Talking about the maximum cost, the maximum amount is spent on interest payment which is around 20%.
Interest payments account for 20% , while states share 17% in taxes and other charges, 15 % for central sector schemes, 9 % for money commission and 10 per cent for other transfers. Finance Commission and others have 10%. Subsidy is 8%, defense is 8% and pension is 4%.
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