The government takes many steps for the good of the people. The government helps people in many ways, from providing road facilities to the public to giving money directly in times of crisis. You must have seen that when the budget comes, it is told that there are details of thousands of crores which have to be spent on the public. But, have you ever thought that from where does the government bring so much money. In such a situation, today we know how much money the government earns from where...
The Government of India makes 62.87% of its total earnings through indirect taxes. These indirect taxes include service, excise, value added, custom duty and stamp duty etc.
Corporate tax is the second biggest source of income for the government. Its share in the total revenue of the government is 18.9%.
After this, the third major source of the government is personal and other income tax. Of the total earnings, the government gets 13.2% share through these taxes.
The fourth largest source of income for the Government of India is the tax on property. Its share in the total earnings of the government is 4.13%.
The fifth source of income of the government is other taxes. These taxes include Swachh Bharat, Infrastructure, Krishi Kalyan Cess etc. Its share in total earnings is 0.9%.