The Union Budget for 2011-2012 is summarized as follows: 1. Total annual budget for 2011-2012 is Rs. 12,577,729 crore or $273 billion, which is more than 147 countries' GDP. 2. Key aspects of revenue include gross tax receipts of Rs. 9.32 trillion and corporate tax receipts of Rs. 3.6 trillion. Tax to GDP ratio is projected to be 10.4% in 2011-2012 and 10.8% in 2012-2013. 3. On the expenditure side, the subsidy bill is projected at Rs. 1.44 trillion for 2011-2012, with food subsidy of Rs. 605.7 billion and fertilizer subsidy of