India’s Union Budget for 2024 will be presented by the Finance Minister on February 1, before the upcoming general elections. Every budget has some key components that determine the country’s economic policies. The revenue budget is one such component of the Union Budget.
The revenue budget focuses on the projected earnings and expenditures of the government during the fiscal year. It includes revenue receipts and revenue expenditures.
Revenue through taxes and non-tax sources
The revenue budget outlines the government’s financial planning based on expected inflows and outflows, which are critical for government programs, services, and monetary policies.
Revenue receipts include income generated by the government through taxes [direct and indirect] and non-tax sources. These funds cover the administration’s expenses, such as salaries, subsidies, and the maintenance of institutions.
Revenue expenditures represent the government’s regular expenses. These are the operational exp
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