Consider the following statements about expenditure side of Budget 2018 19 1 St...........

Economic Affairs Tax System

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Consider the following statements about expenditure side of Budget 2018-19 -

1. States' share of taxes and duties constitutes the largest share of it.

2. Interest payments constitute the second largest share.

Which of the above statement/s is/are correct?

1 only

2 only

Both are correct

None is correct

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Explanation:

Order of '1 Rupee goes to' in Budget 2018-19 -
•   States' share of taxes and duties (24p)
•   Interest Payments (18p)
•   Central Sector Schemes (10p)
•   Subsidies (9p), Centrally Sponsored Scheme (9p), Defense (9p)
•   Finance Commission and Other Transfers (8p)
•   Other Expenditure (8p)
•   Pensions (5p)