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We know that

There are 2 types of Receipts in Budget

  • Revenue Receipts
  • Capita Receipts

Types of Receipts in Budget - Teachoo.JPG

Lets understand them with the help of some examples

What is Public Provision - Teachoo.JPG

Difference between Public Provision and Public Production - Teachoo.JPG

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Transcript

Types of Receipts in Budget Revenue Receipts Capital Receipts It refers to Receipts which are not redeemable (which cannot be Returned or reclaimed) It Receipts which increase liability Or Reduce Financial Assets What is Public Provision PUBLIC PROVISION Government Provided by Goods and Services which are provided by government free of cost in Government Budget Who Provides these Goods? These are provided by Government Who Produces these Goods? May be Produced by Public Sector (Govt) or Private Sector Note Public Provision and Public Production are Different Difference between Public Provision and Public Production PUBLIC PROVISION PUBLIC PRODUCTION Govt. Provided Goods and Services which are Provided by Government Free of cost In Govt. Budget May be Produced By Public Sector Or Private Sector Note Public Provision is made for Public Goods. However they be produced by anyone-Public or Private Produced by Public Sector Only (Not Pvt. Sector) Goods and Services are Produced by Govt.

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.