Revenue Budget
Revenue Budget
Revenue Budget: This financial statement includes the revenue receipts of the government i.e, revenue collected by way of taxes & other receipts. It also contains the items of expenditure met from such revenue.
(A) Revenue Receipts: These are the incomes which are received by the government from all sources in its ordinary course of governance. These receipts do not create a liability or lead to a reduction in assets. Revenue receipts are further classified as tax revenue and non-tax revenue.
(i). Tax Revenue: Tax revenue consists of the income received from different taxes and other duties levied by the government. It is a major source of public revenue. Every citizen, by law is bound to pay them and non-payment is punishable. Taxes are of two types, viz., Direct Taxes and Indirect Taxes.
Direct taxes are those taxes which have to be paid by the person on whom they are levied. Its burden can not be shifted to some one else. E.g. Income tax, property tax, corporation tax, estate duty, etc. are direct taxes. There is no direct benefit to the tax payer.
Indirect taxes are those taxes which are levied on commodities and services and affect the income of a person through their consumption expenditure. Here the burden can be shifted to some other person. E.g. Custom duties, sales tax, services tax, excise duties, etc, are indirect taxes.
(ii) Non-Tax Revenue: Apart from taxes, governments also receive revenue from other non-tax sources. The non-tax sources of public revenue are as follows :-Fees: The Government provides variety of services for which fees have to be paid. e.g. fees paid for registration of property, births, deaths, etc.
Fines and penalties: Fines and penalties are imposed by the government for not following (violating) the rules and regulations.
Profits from public sector enterprises: Many enterprises are owned and managed by the government. The profits receives from them is an important source of non-tax revenue. For example in India, the Indian Railways, Oil and Natural Gas Commission, Air India, Indian Airlines, etc. are owned by the Government of India. The profit generated by them is a source of revenue to the government.
Gifts and grants: Gifts and grants are received by the government when there are natural calamities like earthquake, floods, famines, etc. Citizens of the country, foreign governments and international organisations like the UNICEF, UNESCO, etc. donate during times of natural calamities
Special assessment duty: It is a type of levy imposed by the government on the people getting some special benefit. For example, in a particular locality, if roads are improved, property prices will rise. The Property owners in that locality will benefit due to the appreciation in the value of property. Therefore the government imposes a levy on them which is known as special assessment duties.(iii) India's Revenue Receipts: The tax revenue provides major share of revenue receipts to the central government of India.
(B) Revenue Expenditure: Revenue expenditure is the expenditure incurred for the routine, usual and normal day to today running of government departments and provision of various services to citizens, It includes both development and non-development expenditure of the Central government Usually expenditures that do not result in the creations of assets are considered revenue expenditure.
Expenses included in Revenue Expenditure:
Students / Parents Reviews [20]
Abhyas institute is one of the best coaching institute in the vicinity of Ambala cantt.The institute provides good and quality education to the students.The teachers are well experienced and are very helpful in solving the problems. The major advantages of the institute is extra classes for weak...
Shreya Shrivastava
8thBeing a parent, I saw my daughter improvement in her studies by seeing a good result in all day to day compititive exam TMO, NSO, IEO etc and as well as studies. I have got a fruitful result from my daughter.
Prisha Gupta
8thOne of the best institutes to develope a child interest in studies.Provides SST and English knowledge also unlike other institutes. Teachers are co operative and friendly online tests andPPT develope practical knowledge also.
Aman Kumar Shrivastava
10thMy experience with Abhyas academy is very good. I did not think that my every subject coming here will be so strong. The main thing is that the online tests had made me learn here more things.
Hiya Gupta
8thA marvelous experience with Abhyas. I am glad to share that my ward has achieved more than enough at the Ambala ABHYAS centre. Years have passed on and more and more he has gained. May the centre flourish and develop day by day by the grace of God.
Archit Segal
7thIt was good as the experience because as we had come here we had been improved in a such envirnment created here.Extra is taught which is beneficial for future.
Eshan Arora
8thThe experience was nice. I studied here for three years and saw a tremendous change in myself. I started liking subjects like English and SST which earlier I ran from. Extra knowledge gave me confidence to overcome competitive exams. One of the best institutes for secondary education.
Aman Kumar Shrivastava
10thAbout Abhyas metholodology the teachers are very nice and hardworking toward students.The Centre Head Mrs Anu Sethi is also a brilliant teacher.Abhyas has taught me how to overcome problems and has always taken my doubts and suppoeted me.
Shreya Shrivastava
8thIt was a good experience with Abhyas Academy. I even faced problems in starting but slowly and steadily overcomed. Especially reasoning classes helped me a lot.
Cheshta
10thIt has a great methodology. Students here can get analysis to their test quickly.We can learn easily through PPTs and the testing methods are good. We know that where we have to practice
Barkha Arora
10thMy experience with Abhyas is very good. I have learnt many things here like vedic maths and reasoning also. Teachers here first take our doubts and then there are assignments to verify our weak points.
Shivam Rana
7thAbhyas is an institute of high repute. Yogansh has taken admission last year. It creates abilities in child to prepare for competitive exams. Students are motivated by living prizes on basis of performance in Abhyas exams. He is satisfied with institute.
Yogansh Nyasi
7thThird consective year,my ward is in Abhyas with nice experience of admin and transport support.Educational standard of the institute recumbent at satisfactory level. One thing would live to bring in notice that last year study books was distributed after half of the session was over,though study ...
Ayan Ghosh
8thMy experience with Abhyas academy is very nice or it can be said wonderful. I have been studying here from seven class. I have been completing my journey of three years. I am tinking that I should join Abhyas Academy in tenth class as I am seeing much improvement in Maths and English
Hridey Preet
9thWe started with lot of hope that Abhyas will help in better understnding of complex topics of highers classes. we are not disappointed with the progress our child has made after attending Abhyas. Though need to mention that we expected a lot more. On a scale of 1-10, we would give may be 7.
Manya
8thIn terms of methodology I want to say that institute provides expert guidence and results oriented monitering supplements by requsite study material along with regular tests which help the students to improve their education skills.The techniques of providing education helps the students to asses...
Aman Kumar Shrivastava
10thAbhyas academy is great place to learn. I have learnt a lot here they have finished my fear of not answering.It has created a habit of self studying in me.The teachers here are very supportive and helpful. Earlier my maths and science was good but now it has been much better than before.
Barkha Arora
10thMy experience was very good with Abhyas academy. I am studying here from 6th class and I am satisfied by its results in my life. I improved a lot here ahead of school syllabus.
Ayan Ghosh
8thMy experience with Abhyas Academy has been very good. When I was not in Abhyas whenever teacher ask questions I could not speak it confidently but when I came in Abhyas, my speaking skills developed and now I am the first one to give the answer of teachers question.
Upmanyu Sharma
7thAbhyas is a complete education Institute. Here extreme care is taken by teacher with the help of regular exam. Extra classes also conducted by the institute, if the student is weak.
