Question

Which are the sources of public revenue?

Mention two sources of public revenue.

State two sources of Government revenue or income.

What are the two sources of public revenue?

Answer 1

Sources of public revenue:

• Tax revenue: A tax is a compulsory payment imposed on individuals or companies by the government to meet expenditures.
• Administrative revenue/Non-tax revenue: It is collected in order to provide administrative services to the people.

Answer 2

Following are the two sources of public revenue:

1. Tax: The government has the right to collect compulsory contributions from the residents of the country in the form of various types of taxes to meet its general expenses incurred for the common good, without any corresponding benefits to the tax payer.
2. Fines: The government can charge the money in the form of fines from the residents of the country as a monetary punishment for violating the laws like speeding more than the permitted limit or breaking traffic rules.