Government Budget 2024 Breakdown. Good and services tax (gst) contributes 17 per cent, with income tax and. For those opting for the new tax regime, the standard deduction for salaried employees to be increased from ₹50,000 to ₹75,000.

At rs 11.1 trillion, it’s a record high, continuing the upward trend. But first, where does the government receive its money from and where does it spend it?