1. Rupee Comes From: Revenue Sources
The Indian government generates revenue from various sources to fund its activities and programs. Here is a breakdown of the primary revenue sources for the fiscal year 2024-2025:
- Borrowing and Other Liabilities: 27%
- Income Tax: 19%
- Goods and Services Tax (GST) & Other Taxes: 18%
- Corporation Tax: 17%
- Non-Tax Receipts: 9%
- Union Excise Duties: 5%
- Customs: 4%
- Non-Debt Capital Receipts: 1%
These percentages reflect the contributions of each source to the total revenue pool, highlighting the significant reliance on borrowing, income tax, and GST .
2. Rupee Goes To: Expenditure Distribution
The allocation of the budget reflects the government’s priorities across various sectors. Here is how the funds are distributed:
- States’ Share of Taxes and Duties: 21%
- Interest Payments: 19%
- Central Sector Scheme (excluding capital outlay on Defence and Subsidy): 16%
- Defence: 8%
- Centrally Sponsored Scheme: 8%
- Finance Commission and Other Transfers: 9%
- Other Expenditure: 9%
- Subsidies: 6%
- Pensions: 4%
This distribution underscores significant spending on states’ share of taxes, interest payments, and central sector schemes .
3. Expenditure on Major Items
The budget allocates substantial funds to various key sectors to promote development and maintain essential services. The major allocations are as follows:
- Ministry of Road Transport and Highways: ₹2,65,808 crore
- Defence: ₹4,54,773 crore
- Agriculture and Allied Activities: ₹1,51,851 crore
- Home Affairs: ₹1,50,983 crore
- Education: ₹1,25,638 crore
- IT and Telecom: ₹1,16,342 crore
- Health: ₹89,287 crore
- Rural Development: ₹68,769 crore
- Social Welfare: ₹56,501 crore
- Commerce & Industry: ₹47,559 crore
These allocations reflect the government’s focus on infrastructure, defense, agriculture, and social sectors.
4. Allocation to Major Schemes
The budget also details the allocations to significant schemes for the fiscal year 2024-2025, showing a strategic emphasis on various development projects:
- MGNREGA: ₹60,000 crore
- Nuclear Power Projects: ₹442 crore
- PLI for Pharmaceutical Industry: ₹1,200 crore
- Solar Power (Grid): ₹4,970 crore
- Development of Semiconductors and Display Manufacturing: ₹3,000 crore
- Lines of Credit under IDEA Scheme: ₹3,849 crore
- Direct Benefit Transfer – LPG: ₹180 crore
These figures highlight the government’s commitment to employment generation, energy, and technological advancement .
5. Receipts and Expenditure Details
The financial projections for the fiscal year 2024-2025 present a comprehensive picture of the government’s budgetary plans:
- Total Revenue Receipts: ₹31.3 lakh crore
- Total Capital Receipts: ₹27.0 lakh crore
- Total Revenue Expenditure: ₹37.1 lakh crore
- Effective Capital Expenditure: ₹15.0 lakh crore
These figures indicate the government’s aim to balance its revenue and capital expenditures while ensuring effective deployment of funds for development .
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