New Delhi, Feb 29 (UNI) Corporation tax is the biggest tax earner to the treasury chipping in 24 paise in every rupee to the government kitty, while interest takes away 21 per cent of the revenue of the government.
The Government spends 11 per cent of its revenue on the Defence, and 8 per cent on subsidies, while Customs contributes 13 per cent of the government's total earnings.
As per the projections, for every rupee earned by the government, Corporation tax gives 24 paise, Income tax (15 paise), Excise (15 paise) Borrowings and other liabilities (14 paise), Customs 13 paise, non tax revenue (10 paise), Service Tax and other taxes (7 paise) and non-debt capital Receipts (2 paise).
A rupee so earned by the Government is spent in the following manner: 21 paise on interest, 19 paise on Central Plan, 19 paise on States' share of taxes and duties, 11 paise on Defence, 8 paise on subsidies, 7 paise on State and UT Plan Assistance, 5 paise on Non-Plan Assistance to State and UT Governments and 10 paise on other Non-Plan Expediture.
UNI KAS RP RN1810