Budget 2021: Where does the budget for the country come from and where does the money go, understand here in easy language

There will be many times in your mind that from where the money comes to the government for the budget and then where and how this money goes. The answer to your question is in this news.

According to the budget, alcohol, diesel and petrol can be expensive. Apart from this, gold and silver can be cheaper from April.

Apart from all this, many times it will come to your mind that from where the money comes to the government for the budget and then where and how this money goes. The answer to your question is in this news. Understand in easy language, where does the government get money for the country’s budget. If you divide the total amount of the budget of 2021-22 into several parts of one rupee, then it will be easy for you to understand.

Where did the money come from

Suppose that a total of one rupee has come to the government and now the government has to give it to different areas for the budget of our country. Talking in this sequence, the Government of India received 36 paise from borrowings and other liabilities i.e., Libilties. 13 paise from corporation tax and 14 paise from income tax i.e. income tax. Customs duty means 3 paise from custom duty. At the same time, 8 paise was received from Central Excise i.e. Central Excise and 15 paise from GST. Non-tax revenue ie 6 paise from other revenue services and non-debt capital income ie non-debt capital receipts received 5 paise. The total sum of these money was one rupee.

Where does the money go

Now understand where did the government spend this one rupee. The government has allocated 9 paise on centrally sponsored schemes, 13 paise on central sector schemes, 20 paise on interest payments and 8 paise for defense. At the same time, 9 paisa for the country’s financial assistance (subsidy), 10 paise for the Finance Commission and other transfers. Five paisa for pension has been allocated 16 paise for parts of states in taxes and fees and 10 paise for other expenses.