The income collected by the government from various sources to meet its expenditure is ______.
The income of the government through all sources is called public income or public revenue.
Categorise the following government receipts into revenue and capital receipts. Give reasons for your answer.
(i) Receipt from sale of shares of a public sector undertaking.
(ii) Borrowing from public.
(iii) Profit of public sector undertakings.
(iv) Income tax received by government.
Q7) An increase in tax revenues collected by the government due to the growth in the national income is known as