As per Budget 2023-24, for every rupee in the government coffer
- 58 paise will come from direct and indirect taxes
- 34 paise from borrowings and other liabilities
- 6 paise from non-tax revenue like disinvestment
- 2 paise from non-debt capital receipts
Finance Minister Nirmala Sitharaman said Goods and Services Tax (GST) will contribute 17 paise in every rupee of revenue, while corporation tax will account for 15 paise
In a massive move, FM Sitharaman has raised the tax exemption limit for leave encashment from Rs 3 lakh to Rs 25 lakh for non-government salaried employees
As per the Union Budget 2023-24, this is the breakup of how the government spends its money
The government expects to earn a 17 per cent higher dividend at Rs 48,000 crore from the RBI, public sector banks and other financial institutions in 2023-24
FM Nirmala Sitharaman has pegged the total expenditure in Budget 2023-24 at Rs 45,03,097 crore
FM Nirmala Sitharaman said that India will lose Rs 35,000 crore of net tax revenue to provide relief to the middle-income group
The government will spend Rs 2.41 lakh crore on construction of new lines, doubling, rolling stock and investment in Railways PSUs
The government will spend Rs 30,000 crore on capital support for state-run Oil Marketing Companies. OMCs had suffered cumulative losses of Rs 27,276 crore in the first half of FY23
The Union Budget 2023 has allocated a whopping Rs 88,956 crore to healthcare expenditure
The government has allocated nearly Rs 6 lakh crore to the Defence sector for the upgrade of Army, Navy and Air Force
The government will invest Rs 13,539 crore under the Jal Jeevan Mission/National Rural Drinking Water Mission
The government has allocated a substantial amount for improving infrastructure and modernisation of police forces