Question

Short answer type questions:
What is a government budget? Name two sources each of non-tax revenue receipts and capital receipts.

Answer 1

Government budget is a statement of the estimates of the government receipts and government expenditure during the period of the financial year. It reveals fiscal policy of the government, focusing on growth and stability of the economy.

Two sources of non-tax revenue receipts : fees, fines.

Two sources of non-tax capital receipts: recovery of loans and borrowings from RBI.