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One of the two components of government Revenue in the budget are
Revenue Expenditure
Budget receipts
Revenue receipts
Expenditure receipts
- Revenue Expenditure: This refers to the spending by the government necessary for the day-to-day functioning and maintenance of services. It includes expenses like salaries and subsidies. It is not a component of revenue in the budget but rather a part of expenditure.
- Budget Receipts: This is a broader term that includes all types of government receipts. However, it's not a specific component of revenue; it includes both revenue and capital components.
- Revenue Receipts: This consists of tax and non-tax revenues received by the government. It is indeed a primary component of government revenue.
- Expenditure Receipts: This term is actually incorrect as expenditure relates to outflows, not receipts or inflows.
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