Categories
Economics

GOVERNMENT REVENUE

STRUCTURES OF GOVERNMENT REVENUE

Public revenue refers to the total income that accrues to the government of a country from various sources.

Government needs enough revenue in order to enable it to carry out its numerous functions.

TYPES OF PUBLIC REVENUE

  1. Capital Revenue (or receipts): Capital receipts, also called irregular or extraordinary sources of revenue are sources of revenue used for meeting expenditure on heavy capital protects e.g. grants, loans etc.
  2. Recurrent Revenue: Recurrent revenue is a regular source of revenue. Recurrent revenue is income which is received on a regular or yearly basis e.g. taxation fee, license and interest on loans etc.

SOURCES OF GOVERNMENT REVENUE

  1. Taxes
  2. Loans
  • Grants and aids
  1. Money from government investments
  2. Issuing of license
  3. Licence
  • Rents and rates

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