Revenue receipts are money received by the government which neither create liabilities nor result in the reduction of assets.
These receipts refer to money received in day to day functioning of the government and its institutions.
● It is further divided into two heads:
● Receipt from tax revenue (Direct tax, indirect tax)
● Receipt from non-tax revenue like dividends from PSU, fee, fines, user charges, interes earned on loans, grants received from foreign government etc.
