GOVERNMENT REVENUE Meaning and
Definition
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Government revenue refers to the funds collected by a governing body through various sources to finance its activities and fulfill its obligations towards its citizens. It represents the sum of all income or receipts received by the government from both internal and external sources.
Internal sources of government revenue typically include taxes such as income tax, value-added tax (VAT), corporate tax, property tax, and other levies imposed on individuals and businesses within the country's jurisdiction. Additionally, non-tax revenues like fees, fines, licenses, and royalties are also considered as internal sources of government revenue.
External sources of government revenue involve funds received from sources outside the country, such as grants, aid, loans, foreign direct investment (FDI), and revenues from exports, among others.
Government revenue serves as the primary source of funding for national infrastructure development, public services, defense, education, healthcare, social welfare programs, and other essential functions. It is critical in enabling the government to carry out its responsibilities and meet the needs of its citizens.
The efficient management and allocation of government revenue are crucial for sustainable economic growth and stability. Governments often employ economic policies to encourage economic activity and ensure a steady flow of revenue to sustain public expenditures. Balancing revenue collection and expenditure is an ongoing challenge for governments, as they need to prioritize spending and make strategic decisions to effectively allocate the available funds for the betterment of the people and the overall development of the country.
Common Misspellings for GOVERNMENT REVENUE
- fovernment revenue
- vovernment revenue
- bovernment revenue
- hovernment revenue
- yovernment revenue
- tovernment revenue
- givernment revenue
- gkvernment revenue
- glvernment revenue
- gpvernment revenue
- g0vernment revenue
- g9vernment revenue
- gocernment revenue
- gobernment revenue
- gogernment revenue
- gofernment revenue
- govwrnment revenue
- govsrnment revenue
- govdrnment revenue
Etymology of GOVERNMENT REVENUE
The word "government" originates from the Old French word "governement", which in turn comes from the Latin root "gubernare" meaning "to govern" or "to steer". The word "revenue" comes from the Old French word "revenue", derived from the Latin word "revenire", meaning "to return" or "to come back". Therefore, the term "government revenue" refers to the income, earnings, or funds that return or come back to the government through taxes, fees, or other sources.
Similar spelling words for GOVERNMENT REVENUE
- government building,
- government office,
- government minister,
- government security,
- government-in-exile,
- government bond,
- government activity,
- government note,
- government department,
- government issue,
- government officials,
- government income,
- government agency,
- government agent.
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