Question : Which one of the following is not included in current revenue of the union government ?
Option 1: Tax revenue
Option 2: non tax revenue
Option 3: Loans
Option 4: Interest payments
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Correct Answer: Tax revenue
Solution : Correct Answer is Tax revenue
Taxes include levies on property ownership and transfer, payroll taxes, social security contributions, taxes on goods and services, income and profit taxes, and other levies. Tax revenues are the essential components of revenue receipts, which are long-term divided into direct taxes, businesses, and indirect taxes like customs duties, excise taxes, and service taxes. It is not included in the Union Budget's revenue account.
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