Question

Which of the following are revenue receipts of the Central Government?

• A. GST
• B. Provident Fund
• C. Interest receipts
• D. Recoveries of loans and advances from State Governments

Hint:

Revenue receipts are those that do not create any liability or asset; they are regular income like taxes and interest.

Answer 1

The Correct Option is C

Step 1: Define revenue receipts: These comprise tax revenues (e.g., GST) and non-tax revenues (e.g., interest income).
Step 2: Define non-revenue receipts: Capital receipts encompass items like Provident Fund contributions and loan repayments.
Step 3: Summarize: Revenue receipts are exemplified by GST and interest income.