Arrange the following sources of revenue as per their share of contribution to total revenue in Union…
In the 'Rupee comes from' breakdown of the Union Budget 2022–23, GST contributed about 16 paise, income tax about 15 paise, Union excise duties about 7 paise, customs about…
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Arrange the following sources of revenue as per their share of contribution to total revenue in Union Budget 2022-23 in descending order.
A. Custom Duty
B. Income Tax
C. GST
D. Union Excise Duty
E. Non debt capital receipts.
Answer and explanation
Correct answer C
In the 'Rupee comes from' breakdown of the Union Budget 2022–23, GST contributed about 16 paise, income tax about 15 paise, Union excise duties about 7 paise, customs about 5 paise and non-debt capital receipts about 2 paise of every rupee. The descending order is GST, income tax, excise, customs, non-debt capital receipts. Non-debt capital receipts (mainly disinvestment and loan recoveries) were the smallest item, so sequences starting with them are wrong, and customs ranked below excise.
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UGC NET Economics