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.
