Question

As per the Interim budget for the financial year 2019 – 20, State the areas from where money/rupee is earned and spent by the Government of India (GOI).

Answer 1

Earning money through:

1. Income Tax, Corporation tax
2. Customs
3. Union excise duties
4. GST
5. Borrowing and other liabilities
6. Non – debt capital assets
7. Non – Tax Revenues

Money goes to:

1. Interest payments
2. Central sector schemes
3. Centrally sponsored scheme
4. Pension and other expenditure
5. The state share of duties and taxes
6. Defense
7. Subsidies
8. Finance commission and
9. Other transfers.