The government collects income from varied sources to meet its expenditure. This is called Public Revenue.
Governments are ever ready to create facilities for the welfare of people and speedy economic development. Due to this, the role of governments has expanded. As a result of this, public expenditure is ever increasing and necessary revenue sources have to be identified and added.
In India, Central and State governments have their own sources of revenue. Now we will learn about the revenue sources of the Central Government.
The Central government collects its income from various sources. These sources can be classified under two heads as Revenue Receipts and Capital Receipts.