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Question
Giving reasons, classify the following into revenue receipts and capital receipts :
Borrowings
Solution
Borrowings:
The government borrows money from the public, RBI, and abroad. This borrowing creates liability and thus, is treated as a capital receipt.
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|
2019-2020 वास्तविक Actuals |
||
| 1. | Revenue Receipts | 1684059 |
| 2. Tax Revenue (Net Tax Revenue) | 1356902 | |
| 3. Non-Tax Revenue | 327157 | |
| 4. | Capital Receipts | 1002271 |
| 5. Recovery of Loans | 18316 | |
| 6. Others Receipts | 50304 | |
| 7. Borrowings and Other Liabilities | 933651 | |
| 8. | Total Receipts (1 + 4) | 2686330 |
| 9. | Total Expenditure (10 + 13) | 2686330 |
| 10. On Revenue Account | 2350604 | |
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| Column I | Column II |
| 1. Income tax | (a) Revenue receipts |
| 2. Corporation tax | (b) Capital receipts |
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| 4. Borrowing | (d) Revenue receipts |
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