Budget 2024 India's financial budget is presented on February 1 every year, since this budget will be the last budget of this government, it will be called the interim budget.
Finance Minister Nirmala Sitharaman will be presenting the Budget. It can be viewed on the Union Budget Mobile App.
The details of the possible expenses of the government are given in the budget in view of the possible expenses of each department.
The question arises as to what is the main source of income for the government and from where the income of the government comes.
The government has many sources of income, the most important of which is tax. The government earns about 17% of its expenditure through GST.
The government earns 15 per cent and 7 per cent tax respectively from direct taxes and excise duty. Also, 6% of the amount is received as non-tax revenue.
Government spends more and earns less. Hence, the government takes a loan from the RBI to make the balance.
The government tries to collect more and more taxes so that it has to take less loans.
Government spends more and earns less. Hence, the government takes a loan from the RBI to make the balance.
Government issues bonds for loans and in many other ways the government tries to take loans, That’s why the government budget is fulfilled by raising the income