Q.What is public revenue ?

Public revenue is the government's income from tax and non-tax sources used to finance public expenditure.

Public revenue (also called government revenue) means the income received by the government from various sources to carry out its functions and meet public expenditure. In a narrow sense it includes only those receipts that create no future obligation to repay; in a broad sense it also covers loans (public debt), though loans are usually treated separately as capital receipts.

Main sources of public revenue:

1. Tax revenue — compulsory payments to the government without any direct quid pro quo, split into:
   • Direct taxes (income tax, corporate tax) whose burden cannot be shifted.
   • Indirect taxes (GST, customs duty) whose burden can be shifted to the consumer. …