For every ₹ in Govt kitty, 70p comes from direct, indirect taxes
New Delhi: For every rupee in the government coffer, 70 paise will come from direct and indirect taxes, while the government will spend 23 paise towards state's share of taxes and duties. According to the Budget 2019-20 presented in Parliament by Finance Minister Piyush Goyal, for every rupee earned, the collection from Goods and Services Tax (GST) has been pegged at 21 paise as a percentage of every rupee earned, amounting to the single largest source of revenue.
The collection from borrowing and other liabilities will be 19 paise, while mobilisation from Union Excise duty will be seven paise.
The government intends to earn eight paise from non-tax revenue like disinvestment, while it plans to mobilise three paise from non-debt capital receipts.
Similarly, tax mobilisation from corporation tax has been fixed at 21 paise.
Income tax mobilisation for the next fiscal has been increased to 17 paise. The government will earn four paise from custom in the next fiscal.