Direct, indirect taxes comprise 63 paise of every rupee in govt coffer: Budget documents
For every rupee in the government coffer, the biggest pie of 63 paise will come from direct and indirect taxes, according to the Union Budget 2024-25 documents. The remaining 27 paise will come from borrowings and other liabilities, 9 paise from non-tax revenue like disinvestment, and 1 paise from non-debt capital receipts, the Budget documents said. In all, 36 paise will come from direct taxes, including corporate and individual income tax. Income tax will yield 19 paise, while corporate tax will account for 17 paise, it said.
Among indirect taxes, goods and services tax (GST) will contribute the maximum 18 paise in every rupee of revenue. Besides, the government is looking to earn 5 paise out of every rupee from excise duty and 4 paise from customs levy. The collection from “borrowings and…
