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Revenue receipts can be defined as those receipts which neither create any liability nor cause any reduction in the assets of the government. They are regular and recurring in nature and the government receives them in the normal course of activities.
Revenue receipts include the proceeds from taxes and other duties levied by the Centre; the interest and dividend it receives on its investments; and the fees and charges the government receives for its services.
Simply put, revenue receipts must satisfy two basic conditions:
No liability: Revenue receipts do not create any liability for the government. For example, taxes received by the government, unlike borrowings, do not create any liabilities for it.
No asset reduction: Revenue receipts do not lead to any reduction in the government’s assets. So, the government cannot show its earnings from sale of stake in a public-sector undertaking as revenue receipts because the stake sale resulted in reduction of its assets.
For the government, there are two sources of revenue receipts — tax revenues and non-tax revenues.

The Budget estimates of the government's revenue receipts for the year 2020-21 added to Rs 20,20,926 crore. The revised estimates of capital receipts for the 2019-20 Budget came at Rs 18,50,101 crore, while the actuals for the 2018-19 Budget stood at Rs 15,52,916 crore.