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Instruments of Fiscal Policy - Government Revenue (for UPSC CSE)
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In this lesson, another major instrument of fiscal policy which is The Government Revenue is discussed in detail by Ayussh. One will find a detailed elaboration of the classifications of the government revenue which are, revenue receipts and capital receipts. He has also spoken about the various types of taxes.

Ayussh Sanghi is teaching live on Unacademy Plus

Ayussh Sanghi
Passionate Educator - CSE / Other Govt Exams [Peep into my Unacademy Plus Courses & experience awesome learning.]

Unacademy user
Pls share the ans for the homework questions so that we can check if we have solved it rite
Mujeeb Ul Rehman
4 months ago
sure
kya sir pad k toh suna rahe ho bas
purely NCERT , word to word, we can understand this also by reading NCERT, gentleman please put little more effort on explanations , -one of your student
Hii sir.. Awesome series sir.. I hv a doubt.. you had said that taking or giving loan is capital expenditure.... but while talking about capital receipts u hv given example of loan received from foreign govt and international organizations...... u ll explain please...
Hi Bharat... For a bank the deposits are liabilities(bcz bank has to pay interest to the depositors) and the loans are assets(bcz the borrower pays interest to the banks).... Similarly, when Central Govt gives loans to State Govts, these loans are financial assets to the Central Govt. So these loans come under Capital Expenditure(acc to the definition given in Part 3 lecture by Ayussh Sir).... Now, when our Govt takes loans from Foreign Govt, the former has to pay interest to the later, so it's creating liability for our Govt, so these loans come under Capital Receipts(acc to the definition given in Part 4 lecture by Ayussh Sir)..... All this is acc to my knowledge. Excuse me if there is any mistake. Thank u!
your energy is less in this Fiscal policy lessions.
please explain in a broader way. please take extra time
  1. FISCAL POLICY Government Revenue PART 4 BY AYUSSH SANGHI


  2. ABOUT ME >Passionate about Teaching >Taught at most reputed Civil Services Institutes >CA, Lawyer >Hit "Contribute to Ayussh" Follow me on: https://unacademy.in/user/ AyusshSanghi


  3. Government or Public Revenue Government revenue or receipts can be classified into: revenue receipts and capital receipts.


  4. Revenue Receipts * The receipts of the government which are non-redeemable, heynnot be reclaimed from the govermment. They are divided into: tax and s non-tax revenues


  5. Tax Revenue k Tax Revenues consist of the: proceeds of taxes and other duties levied by the central government. x Tax revenues are an important component of revenue receipts and comprise of following taxes.


  6. Various type of Taxes Personal income tax: Taxes on individual salaries and income * Corporation tax: Taxes on firms and corporations * Excise duties: Duties levied on goods produced within the country * Customs duties: Duties imposed on goods imported into and exported out of India Service tax: Tax levied by the government on service providers on certain service transactions Wealth tax: Charged on the net wealth of the assesse. It is a tax on the benefits derived from ownership of property. Gift tax: Tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether the donor intends the transfer to be a gift or not.


  7. Various type of Taxes Taxes like wealth tax, gift tax and estate duty have now been abolished as they were of less significance. * Taxes like wealth tax, gift tax and estate duty have now * Taxes are also classified as: k Direct Tax s Indirect taxes


  8. Direct Taxes Direct Tax - A direct tax is one that the taxpayer pays directly to the government. These taxes cannot be shifted to others. A homeowner pays personal property taxes directly to the government. A family pays its own federal income taxes.


  9. InDirect Taxes Indirect taxes - An indirect tax can be passed on to another person or group. A business may recover the cost of the taxes it pays by charging higher prices to customers. A tax shift occurs when the business shifts its taxes to others. Excise Duties and Custom Duties are examples of indirect taxes.


  10. Non Tax Revenue Non-tax revenue mainly consists of: interest receipts on account of loans by the central government, k dividends and profits on investments made by the government, * fees and other receipts for services rendered by the government. Cash grants-in-aid from foreign countries and international organisations.