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Fiscal Economics — Economics STD 12 — Question

Tamilnadu BoardEnglish MediumSTD 12EconomicsFiscal Economics3 Marks
Question
What do you mean by Public Revenue?
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Answer

  1. The income of the government through all sources is called public income or public revenue.
  2. According to Dalton, the term “Public Income” has two senses — wide and narrow.
  3. In its wider sense it includes all the incomes or receipts which a public authority may secure during any period of time.
  4. In its narrow sense, it includes only those sources of income of the public authority which are ordinarily known as “revenue resources.”
  5. To avoid ambiguity, the former is termed “public receipts” and the latter “public revenue.”
  6. In a narrow sense, it includes only those sources of income of the Government which are described as “revenue resources”.
  7. In broad sense, it includes loans raised by the Government also.

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