Question

Identify which of the following statements is false: a) Tax revenue is of two types revenue receipts and non-tax revenue receipts
b) Budgetary deficit exists when total expenditure exceeds total receipts.
c) Fiscal deficit equals borrowing
d) Interest on loans is a non-tax revenue receipts​

Answer 1

Answer:

1) Non-tax receipts of the government are all those revenue receipts of the government that is not a part of tax receipts of the government be it a direct tax or indirect tax. For example - fees, fines, escheats, gifts and grants, interest and dividends on investment, etc. 

2) A budget deficit occurs when expenses exceed revenue and indicate the financial health of a country. The government generally uses the term budget deficit when referring to spending rather than businesses or individuals. Accrued deficits form national debt

3) It is the difference between the total income of the government and the total expenditure incurred by it. ... In simple words, Fiscal Deficit is the excess of total expenditure over total receipts of the country, which often means that fiscal deficit is equal to borrowings of the state

4)The government also collects interest as non-tax revenue on the loans and funds advanced to states for various purposes. So, the government collects non-tax revenue in return for providing/facilitating any goods or services.

Explanation:

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