GOVERNMENT INCOME GOVERNMENT EXPENDITURE

57.  GOVERNMENT INCOME	GOVERNMENT EXPENDITURE
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 .	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.