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57. GOVERNMENT INCOME
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GOVERNMENT
EXPENDITURE
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1.
Meaning
Government
income refers to amount earned or received by the government during a given
period of time.
2.
Forms
Government income can be:
(a) Revenue income such as tax and
non-tax revenue.
(b)
Capital income/receipts such as borrowings and other capital receipts.
3.
Importance
It
facilitates expenditure on development and non-development activities
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Government expenditure refers to amount
spentby the government during a given period of time.
Government
expenditure can be:
(a) Revenue expenditure such as recurring expenditure on health,
education, etc
(b) Capital expenditure such as expenditure on infrastructure like
roads, power, etc.
It facilitates
economic and social development.
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