WHERE DOES THE MONEY COME FROM TO FINANCE EXPENSES?
The government is targeting tax revenue growth of 12% to 26.32 trillion rupees.
For the year, the government is targeting an 11.4% growth in net tax revenue to 23.3 trillion rupees.
Gross market borrowing is estimated at 15.43 trillion rupees ($189 billion), while net borrowing is estimated at 11.81 trillion rupees.
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The net borrowing excludes 781 billion rupees of bonds given to states as compensation for a shortfall in the Goods and Services Tax, reducing repayments due next year.
The government plans to raise 510 billion rupees through the sale of stakes in various public companies.
The government has raised its spending target by 7.5% to Rs 45.03 trillion for 2023/24.
The government will spend Rs 10 trillion on longer-term capital spending in 2023/24, extending a strategy adopted to revive growth in the aftermath of the COVID-19 pandemic.
The government has cut major subsidies by 28% to Rs 3.75 trillion for the next fiscal year.
The government will target a budget deficit of 5.9% of GDP for 2023/24, up from 6.4% this year. A Reuters poll had pegged the budget gap at 6% of GDP.
($1 = 81.8150 Indian rupees)
Compiled by Aftab Ahmed; Editing by Kim Coghill
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