The revenue budget consists of revenue receipts of the government (revenues from tax and other sources), and its expenditure. Revenue receipts are divided into tax and non-tax revenue. Tax revenues are made up of taxes such as income tax, corporate tax, excise, customs and other duties that the government levies.

Government Revenue in the Budget
Government revenue is a crucial component of the budget as it provides the necessary funds for the government to carry out its various functions and responsibilities. It is the money that the government collects from various sources to finance its expenditure and meet its financial obligations. There are two main components of government revenue in the budget: revenue receipts and capital receipts.

Revenue Receipts
Revenue receipts refer to the income that the government generates from its regular activities and operations. It includes all the non-capital receipts of the government, which are used to meet the day-to-day expenses of the government. These receipts are further classified into tax revenue and non-tax revenue.

1. Tax Revenue
Tax revenue is the largest component of revenue receipts. It is the amount of money collected by the government through various taxes imposed on individuals, businesses, and other entities. Some common examples of tax revenue include income tax, sales tax, excise duty, customs duty, and property tax. Tax revenue plays a significant role in funding government expenditure and meeting public welfare needs.

2. Non-Tax Revenue
Non-tax revenue refers to the income generated by the government through sources other than taxes. It includes various non-tax sources such as fees, fines, penalties, interest receipts, dividends from public sector enterprises, and grants from foreign governments and international organizations. Non-tax revenue is an important source of income for the government and helps in diversifying its revenue base.

Capital Receipts
Capital receipts, on the other hand, refer to the money raised by the government through the sale of assets, borrowings, and recovery of loans. Unlike revenue receipts, capital receipts do not have a recurring nature and are used for capital expenditure or financing long-term projects. Some common examples of capital receipts include proceeds from the sale of government assets, loans raised from domestic and foreign sources, and recoveries of loans given by the government.

Conclusion
In conclusion, revenue receipts are one of the two main components of government revenue in the budget. They consist of tax revenue and non-tax revenue, which are generated through regular activities and operations of the government. These receipts play a crucial role in financing government expenditure and meeting the financial needs of the government. Capital receipts, on the other hand, are used for capital expenditure and financing long-term projects. Understanding these components is essential to analyze and evaluate the financial position of the government.