Budget 2024: Where Every Rupee Goes and the Impact on Everyday Items
States' Share of Taxes and Duties (21%)
The largest portion of the budget is allocated to states, funding crucial projects in infrastructure, health, and education.Interest Payments (19%)
A significant 19% of the budget is dedicated to servicing national debt. This commitment underscores the importance of maintaining financial stability and ensuring that past borrowings do not hinder future fiscal plans.Central Sector Scheme (16%)
Central sector schemes, excluding capital outlay on defense and subsidies, receive 16% of the budget.Defence (8%)
8% of the budget is allocated to defense.
This supports modernization, procurement of advanced equipment, and overall defense preparedness, ensuring national security and sovereignty.Subsidies (6%)
Subsidies, covering essential sectors like food, fertilizer, and petroleum, account for 6% of the budget.Pensions (4%)
A smaller portion of the budget is allocated to pensions. This funding ensures financial support for those who have served the nation in their retirement years.Other Expenditures (9%) and Centrally Sponsored Schemes (8%)
Other expenditures include various miscellaneous government expenses, and centrally sponsored schemes, implemented with state cooperation, collectively account for 17% of the budget.
Finance Commission and Other Transfers (9%)
Transfers recommended by the Finance Commission, ensuring a fair distribution of resources between the center and the states, receive 9% of the budget. Understanding these allocations helps citizens see how public funds are utilized and the government's priorities.
