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Corporation tax has highest contribution to Rupee

New Delhi, Feb 28 (UNI) Out of every Rupee spent this year, corporation tax will be contributing the maximum of 21 paise followed by borrowings and other liabilities and excise at 19 paise and 17 paise respectively.

According to the breakup of the contribution of various sectors to the Rupee, Income-Tax accounts for 13 paise and Customs 12 paise.

Of this, non-tax revenue shares 10 paise, service tax and other taxes is a meagre 7 paise and only 1 paise is the cotribution of the non-debt capital receipts.

As much as 81 paise out of a Rupee will come from different taxes and the rest 19 paise is from borrowings, analysis of the budgetary proposals for 2006-07 shows.

And where does the Rupee go? The highest -- 20 paise of every Rupee -- goes towards the Central Plan and interest repayment in equal measure.

The states' shares of taxes and duties is pegged at 18 paise of a Rupee while Defence gets a substantial 12 paise.

Other non-Plan expenditure stakes claim to 11 paise of the expenditure.

Every seven paise of a Rupee is spent on subsidies and on states and U T Plan assistance.

Thirty per cent of the Rupee flows as transfers to states and Union Territories.

UNI

Hike to social sector, inflation high priority: Chidambaram

New Delhi, Feb 28 (UNI) Finance Minister P Chidambaram in his budget 2007-08 today substantially hiked allocations for social sector and flagship programmes of the UPA Government and announced that agriculture was to be given the highest priority to achieve the targetted growth rate of over 9 per cent. In line with this, the Finance Minister, while presenting his Budget in the Lok Sabha substantially hiked the gross budgetary support to Rs 2,05,100 crore for 2007-08. The hike in allocation.....

Vocational education mission to have allocation of Rs 50

New Delhi, Feb 28 (UNI) The Finance Minister, Shri P. Chidambarak, has proposed to make an initial provision of Rs 50 crore for beginning work on Vocational Educational Mission. While presenting the Budget proposals in the Lok Sabha today, the Finance Minister observed that to sustain a high level of economic growth, it is essential have a reservoir of skilled and trained manpower. Shortages have already emerged in a number of sectors. He said, ''we can advantage of demographic dividend thrown.....

Govt to set up committee on climate change

New Delhi, Feb 28 (UNI) The Finance Minister, Mr P Chidambaram, while presenting the Budget proposals in the Lok Sabha today, informed the House that the Government has proposed to appoint an expert committee to study the impact of climate change on India and identify the measures which might have to be taken in the future. Mr chidambaram said this as the country has taken steps to mitigate the Green House Gas (GHG) emissions and adapt to climate chnage impact as.....
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