Where is your tax money being spent by the govt?

It has been a taxing time for salaried class and we look to the budget for some reprieve it also helps to see where our tax money really goes. Where does the government spend it's money?

As per the last year's budget document, out of the total income of Rs 26.81 lakh crore made by the government in 2019-2020, Rs 20.10 lakh crore were the gross tax revenues.

It might be shocking to some that almost one-fourth of their tax money is spent as interest on government borrowings/loans. The second highest expenditure done by the government happens in the defense sector, 10% of the govt's revenue from taxes. While health and education don't have much weightage.

Here is a complete list of the share of expenditure

• Planning and Statistics - 0.07%
• North-East Development - 0.08%
• Petroleum Subsidy: 0.37%
• External Affairs - 0.52%
• Scientific Departments - 0.88%
• Commerce and industry - 0.9%
• Energy - 1.23%
• Social welfare - 1.39%
• UTs - 1.52%
• IT and telecom - 1.5%
• Urban development - 1.57%
• Health - 2.14%
• Others - 2.51%
• Finance - 2.64%
• Education - 2.68%
• Home affairs - 3.26%
• Tax admin - 3.76%
• Agriculture - 4.26%
• Pension - 5.4%
• Rural development - 5.59%
• Transport - 6.69%
• Food subsidy - 6.97%
• Transfer to states - 8.42%
• Defence - 9.96%
• Interest payments - 23.25%

Budget 2022: Tax slabs and rate, will there be a relief?

Future Ready Budget goes paperless! No paper but also no halwa this year