(A) Revenue Receipts
(B) Capital Receipts
(A) REVENUE RECEIPTS : “Those Government receipts which neither creates a liability nor leads to reduction in assets of government, are known as revenue receipts.” In revenue receipts, government is under no future obligation to return the amount.
It can be broadly further classified in :
(a) Tax Revenue Receipts
(i) Direct Taxes
(ii) Indirect Taxes
(b) Non-tax revenue receipts
(i) Interest Receipts
(ii) Dividends
(iii) Profits :
(iv) Economic Grants
(v) Commercial Revenue
(vi) Administrative Revenue
(B) CAPITAL RECEIPTS : Capital Receipts are those monetary receipts which either create liability for the Government or cause reduction in the assets of the Government. In capital receipts government is under obligation to return the amount along with interest in the case of borrowings.
Capital receipts are further classified in :–
(a) Disinvestment
(b) Borrowing and Other Liabilities
(c) Recoveries of Loans
(d) Savings of Post Offices
(e) Savings of Provident Fund
