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The following is glance at the Government's receipts and expenditure as proposed in the Budget 2009-10:
RECEIPTS: BUDGET ESTIMATES (cr)
1. Corporate Tax Rs 256,725
2. Income Tax Rs 112,850
3. Customs Rs 98,000
4. Excise Duties Rs 106,477
5. Service Tax Rs 65,000
6. Other Taxes and Duties Rs 2,027
7. Total Non-Tax Revenue Rs 140,279
8. Less States' Share Rs 164,361
9. Less Contingency Fund Rs 2,500
Total Tax Revenue Rs 614,497
EXPENDITURE (NON-PLAN):
1. Interest Payments Rs 225,511
2. Defence Rs 86,879
3. Subsidies Rs 111,276
4. Grants to States & UTs Rs 48,570
5. Pension Rs 34,980
6. Other heads Rs 188,473
Total Non-Plan Expenditure Rs 695,689
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Finance Minister Pranab Mukherjee indicated bold tax reforms and as a first step has done away with Fringe Benefit Tax, Commodities Transaction Tax and the 10 per cent surcharge on Personal Income Tax.The following is glance at the Government's receipts and expenditure as proposed in the Budget 2009-10:RECEIPTS: BUDGET ESTIMATES (cr)1. Corporate Tax Rs 256,7252. Income Tax Rs 112,8503. Customs Rs 98,0004. Excise Duties Rs 106,4775. Service Tax Rs 65,0006. Other Taxes and Duties Rs 2,0277. Total Non-Tax Revenue Rs 140,2798. Less States' Share Rs 164,3619. Less Contingency Fund Rs 2,500Total Tax Revenue Rs 614,497EXPENDITURE (NON-PLAN):1. Interest Payments Rs 225,5112. Defence Rs 86,8793. Subsidies Rs 111,2764. Grants to States
nothing special and benificary for govt employees limit for individuals who pay the tax regularly and without any default the limit may be raised
Every year we are paying more interst to foriegn banks. It is now almost 33% of our all expediture. after some years we will have to pay more than 50% to world banks. It would be dangerous for us think now!!!
tax limit for the salaried is very less as most of the government staff are seems to get more than 3lakh per year as their annual income obviously there is going to be burden for them for saving inspite of paying tax. This increase in the limit is not sufficient and Finance Minister must reconsider this limit.
The ineterest outgo is too much!!! It will kill us all. All those people having taken a home loan can now understand, how?