Explanation:

Capital Receipts: All those receipts of the government which create liability or reduce financial assets are termed capital receipts. When government takes fresh loans it means that in the future these loans will have to be returned and interest will have to be paid on these loans. Thus they create liability. Similarly, when the government sells an asset, like the sale of shares in Public Sector Undertakings (PSUs) which is referred to as PSU disinvestment, it reduces the total amount of financial assets of the government. It means that in the future earnings from that asset will disappear. Thus, these receipts can be debt creating or non-debt creating. Non-debt capital receipts: Non-debt receipts are those which do not incur any future repayment burden for the government. Almost 75 per cent of the total budget receipts are nondebt receipts. Examples of non-debt capital receipts: Recovery of loans and advances, disinvestment receipts, issue of bonus shares, etc. Hence, option (d) is correct. Debt capital receipts: Debt Receipts have to be repaid by the government. Around 25 per cent of government expenditure is financed through borrowing. A reduction in debt receipt (or borrowing) can be a big leap for the economy's financial health. Most of the capital receipts of the government are debt receipts Examples of Debt Capital receipts: Market loans, issuance of special securities to publicsector banks, issue of securities, short-term borrowings, treasury bills, securities against small savings, state provident funds, relief bonds, saving bonds, gold bonds, external debt, etc, are all example of debt capital receipts.