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Consider the following statements and choose the correct option: Statement 1: Income tax and dividends from PSUs are classified as revenue receipts in the government budget. Statement 2: Disinvestment in PSUs is also a revenue receipt as it brings income to the government.

1. Only Statement 1 is correct
2. Only Statement 2 is correct
3. Both Statement 1 and Statement 2 are correct
4. Neither Statement 1 nor Statement 2 is correct

Correct answer: Only Statement 1 is correct

Solution

Income tax and dividends from PSUs are revenue receipts because they are regular income for the government. Disinvestment is a capital receipt since it involves sale of government assets, not ordinary revenue.

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