Union Budget Explained: After Finance Minister Nirmala Sitharaman presented the 2025-26 Union Budget successful the Lok Sabha connected Saturday, it is prudent to larn astir the basics of the yearly acceptable of documents outlining an administration's yearly collections and spending. From zero taxation connected yearly income up to Rs 12 lakh to an summation successful the Kisan Credit Card bounds to Rs 5 lakh, respective cardinal announcements were made by the Finance Minister.
Do you cognize wherever the cardinal authorities collects its wealth from?
In this article, let's look astatine immoderate authoritative information from the February 2025 Budget to larn astir the gross broadside of authorities finances. For example, income tax, goods & services taxation & different taxes, and borrowings & different liabilities signifier astir 64 per cent of the government's full gross collected. Corporation-tax and non-tax receipts, connected the different hand, unsocial signifier 26 per cent of the government's wide revenue.
Budget Explained | Where does a authorities cod gross from? Where tin you find these details?
These details are laid retired intelligibly successful the 'Budget astatine a Glance' document, portion of the Budget documents that are tabled successful Parliament.
It is this precise papers that offers an wide summary of the Budget, including cardinal aggregates.
The sole intent of this papers is to supply a wide and concise outline of the travel of wealth connected some gross and expenditure sides, facilitating casual understanding.
For instance, the Budget astatine a Glance papers offers an illustrative relationship of sources of receipts done a premix of infographics and tables.
Let's look astatine the latest Budget astatine a Glance to recognize respective revenue-side aspects of the cardinal government's Budget profile.
Where does the Government of India gain each 1 rupee of gross from?
Component | Contribution (in paise retired of each 1 rupee of full gross collected) |
Borrowings & different liabilities | 24 |
Income tax | 22 |
GST & different taxes | 18 |
Corporation tax | 17 |
Non-tax receipts | 9 |
Union Excise | 5 |
Customs | 4 |
Non-debt superior receipts | 1 |
Total | 100 |
Income taxation and borrowings & different liabilities, on with goods & services taxation & different taxes unneurotic signifier the lion's stock of the government's earnings. These 3 things relationship for much than two-thirds of the wide expenditure, according to authoritative Budget documents.