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The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.
- a)revenue nature income
- b)capital nature expenditure
- c)revenue nature expenditure
- d)capital nature income
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
The Government of India has decided to vaccinate the adult population ...
Vaccinating the adult population of the country with Covaxin /Covishield without any charge would mean that this type of expenditure by government is neither creating any asset nor causing any fall in liability. Hence, it is categorized as revenue nature expenditure.
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The Government of India has decided to vaccinate the adult population ...
Understanding the Expenditure Classification
The decision by the Government of India to vaccinate the adult population free of charge can be categorized as revenue nature expenditure for several reasons:
Definition of Revenue Expenditure
- Revenue expenditure refers to the spending that is incurred for day-to-day operations and maintenance of the government’s services.
- It typically does not result in the creation of assets but focuses on enhancing the well-being of the population.
Characteristics of the Vaccination Program
- Non-Capital Asset Creation: The vaccination program aims to improve public health rather than create tangible assets. The vaccines provided do not lead to any long-term economic benefits in terms of physical assets.
- Ongoing Service: Vaccination is part of a broader public health initiative. It is an essential service aimed at improving the health standards of the entire population, reflecting the nature of revenue expenditure.
Impact on Government Finances
- Immediate Financial Outlay: The government incurs immediate costs for the purchase and distribution of vaccines, which are funded from the current budget rather than through capital investments.
- Social Welfare Focus: By providing free vaccines, the government seeks to enhance social welfare, which is a primary objective of revenue expenditures.
Conclusion
In summary, the vaccination initiative by the Government of India is classified as revenue nature expenditure because it involves spending aimed at public welfare without creating long-term assets. This aligns with the definitions and characteristics of revenue expenditures in government accounting.
The decision by the Government of India to vaccinate the adult population free of charge can be categorized as revenue nature expenditure for several reasons:
Definition of Revenue Expenditure
- Revenue expenditure refers to the spending that is incurred for day-to-day operations and maintenance of the government’s services.
- It typically does not result in the creation of assets but focuses on enhancing the well-being of the population.
Characteristics of the Vaccination Program
- Non-Capital Asset Creation: The vaccination program aims to improve public health rather than create tangible assets. The vaccines provided do not lead to any long-term economic benefits in terms of physical assets.
- Ongoing Service: Vaccination is part of a broader public health initiative. It is an essential service aimed at improving the health standards of the entire population, reflecting the nature of revenue expenditure.
Impact on Government Finances
- Immediate Financial Outlay: The government incurs immediate costs for the purchase and distribution of vaccines, which are funded from the current budget rather than through capital investments.
- Social Welfare Focus: By providing free vaccines, the government seeks to enhance social welfare, which is a primary objective of revenue expenditures.
Conclusion
In summary, the vaccination initiative by the Government of India is classified as revenue nature expenditure because it involves spending aimed at public welfare without creating long-term assets. This aligns with the definitions and characteristics of revenue expenditures in government accounting.
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The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer?
Question Description
The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer?.
The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer?.
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The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of The Government of India has decided to vaccinate the adult population of India (with Covaxin/ Covishield), without any charge. This would be categorized as ____________.a)revenue nature incomeb)capital nature expenditurec)revenue nature expenditured)capital nature incomeCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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