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Question
The most important sources of public revenue is?
The most important sources of public revenue is?
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Solution
The correct option is C Taxes
A Tax is a compulsary charge or payment levied or imposed by a public authority on an individual or corporation.
Modern states have to perform multilple duties for welfare of their citizens and for the performance of the functions, money is needed. The most commom method of financing the government activities is by taking recourse to the fruitful device of taxation.
Tax is compulsary and is not levied in return of any special services.
Eg - GST, single handedly contributed approx 32.80% of the total revenues in 2017-18. Other form of taxation also contributed additonal approx 30% of revenue to the government.
A Tax is a compulsary charge or payment levied or imposed by a public authority on an individual or corporation.
Modern states have to perform multilple duties for welfare of their citizens and for the performance of the functions, money is needed. The most commom method of financing the government activities is by taking recourse to the fruitful device of taxation.
Tax is compulsary and is not levied in return of any special services.
Eg - GST, single handedly contributed approx 32.80% of the total revenues in 2017-18. Other form of taxation also contributed additonal approx 30% of revenue to the government.
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