What does revenue budget contain?

What does revenue budget contain?

What is the revenue budget? This consists of the revenue receipts of the government (tax revenues and other revenues) and the expenditure met from these revenues. Tax revenues comprise proceeds of taxes and other duties levied by the Union.

What is the purpose of a revenue budget?

Revenue budgets ensure that businesses efficiently allocate resources — and in doing so they save time, effort and money. Revenue budget of government comprises of the revenue receipts and the expenses that need to be met with the revenue receipts.

What does revenue budget mean?

The revenue budget consists of revenue receipts of the government (revenues from tax and other sources), and its expenditure. Tax revenues are made up of taxes such as income tax, corporate tax, excise, customs and other duties that the government levies.

What are the two components of revenue budget?

Two parts make up the revenue budget. Receipts of funds and expenditures of funds. The projected government expenditure in a fiscal year that does not generate assets or reduce liabilities is referred to as revenue expenditure.

What is not included in revenue budget?

The correct answer is Small Savings. In non-tax revenue, the government’s sources are interesting on loans and dividends on investments like Public Sector Undertakings, fees, and other receipts for services that it renders.

What is difference between revenue budget and capital budget?

Revenue budget comprises of those items that neither leads to a change in the assets nor a change in the liabilities of the government. Capital budget comprises of those items that lead to a change in either the assets or liabilities of the government. It consists of revenue receipts and revenue expenditure.

What is the difference between revenue budget and capital budget?

What is revenue budget class 12?

The Government : Budget And The Economy. (i) The Revenue Budget comprises current revenue receipts and current expenditure met from such revenues. The revenue receipts include both tax revenue (like income tax, excise duty) and non-tax revenue (like interest receipts, profits).

Is budget revenue or expenses?

A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals. A budget is basically a financial plan for a defined period, normally a year that is known to greatly enhance the success of any financial undertaking.

What is revenue budget with example?

The revenue budget consists of revenue receipts of the Government of India and the expenditure met using that revenue. This also accounts for the revenue for the government. According to the Budget Estimates of 2019-20, the revenue receipts of the government are likely to come around Rs 19,62,761 crore.