REVENUE RECEIPTS

REVENUE RECEIPTS

1.      Meaning

Revenue receipts include
(a)    Tax Revenue
(b)   Non-Tax Revenue

2.      Uses For

Revenue receipts are used for revenue expenditure, which is mostly non-development such as interest payment, subsidies, etc.

3.      Debt Obligation

Revenue receipts do not create debt obligation for the Government and therefore, there is no repayment.

4.      Budget Account

Revenue receipts are included in revenue account of budget.