What are the components of a revenue budget?

The components of a revenue budget are the expenditure and the revenues from tax and other sources; this component is known as revenue receipts of the Government. You can read about the Revenue Receipts- Tax Revenue and Non-Tax Revenue in the given link.

Excise duties, customs, income tax, corporate tax, Goods and Services Tax (GST) are the tax revenues of the Government. Non-tax revenues, on the other hand, are the recurring income that is earned from sources other than taxes by the government.

Further readings:

  1. Previous Years Economics Mains Questions in UPSC Civil Service Exam, General Studies Paper – 3
  2. Economics Notes For UPSC IAS Examination

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