Question

Which are the sources of public revenue?

Mention two sources of public revenue.

State two sources of government revenue or income.

What are the two sources of public revenue?

Answer 1

1. Public revenue refers to the government's total income from all sources. This comprises both tax and non-tax revenue, such as interest, dividends, and profits from public sector firms, as well as government service revenue.
2.  These are the revenue sources of income, or the sources of government money that do not require repayment by the government. Public revenue, as defined above, differs from public receipts. Public receipts encompass all of the government's income, including public borrowing and the issuance of new currency.
3. Thus, public receipts are calculated as the sum of public tax receipts and income from other sources such as public borrowing and currency printing.

Answer 2

Following are the two sources of public revenue:

1. Tax: The government has the right to collect compulsory contributions from the residents of the country in the form of various types of taxes to meet its general expenses incurred for the common good, without any corresponding benefits to the tax payer.
2. Fines: The government can charge the money in the form of fines from the residents of the country as a monetary punishment for violating the laws like speeding more than the permitted limit or breaking traffic rules.