For every rupee in govt kitty, 68 paise come from taxes

For every rupee in the government coffer, 68 paise will come from direct and indirect taxes while states' share of taxes and duties is the single-largest expense head accounting for 23 per cent of total total spending, Budget documents showed.

According to the Budget 2019-20 presented in Parliament by Finance Minister Nirmala Sitharaman, goods and services tax collections will contribute 19 paise in every rupee revenue.

Corporation tax is the single-largest source of income, contributing 21 paise to each rupee earned.

The collection from borrowings and other liabilities will be 20 paise while income tax will yield 16 paise to every rupee collection.

The government intends to earn 9 paise from non-tax revenue like disinvestment, 8 paise from Union excise duty, 4 paise from customs and 3 paise from non-debt capital receipts in the every rupee collection.

On the expenditure side, the biggest outlay component is the states' share of taxes and duties at 23 paise, followed by interest payment at 18 paise.