Question

$\huge \underline \red{Question:-}$
What is the source of income of the central government and the state
government ?

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Answer 1

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Union Excise Duties:

They are, presently, by far the leading source of revenue for the Central Government and are levied on commodities produced within the country, but excluding those commodities on which State excise is levied (viz., liquors and narcotic drugs).

Answer 2

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☞ Government's primary source of earning money is from taxes and non-tax revenues. Taxes are collected in the form of direct and indirect ways.

☞State and local governments collect tax revenues from three primary sources: income, sales, and property taxes. Income and sales taxes make up the majority of combined state tax revenue, while property taxes are the largest source of tax revenue for local governments, including school districts.

☞In addition, states earn non-tax revenue through various sources, including interest earned on loans provided by states, licensing fee for mineral exploration, fee levied in relation to forestry, among others. Non-tax revenue constitutes 7% of their revenue on an average in 2017-18.

☞We know that the Central government gets the most money from tax and revenue. Read below to find out what is the source of government's income apart from tax and revenue.