The credit side:
The revenues (i.e. incomes) of the government are recorded on this side.
There are two accounts on the credit side. They are:
1. Current ineome (revenue):
- The revenue income includes direct and indirect taxes, profits of public enterprises, fees and fines from public utilities, etc.
- Revenue income is also called current income because this section records receipts and expenditures transactions of the current period.
2. Capital income:
- The section of capital income records receipts of those transactions which have long term or continuous impacts on government funds.
- Income generated by the government in the form of borrowings from the market in own country and abroad, borrowing from central bank, income from disinvestment, etc. are recorded in this account.
