Public Revenue

Any kind of income for government is known as public revenue. The income of public authority may be defined either in a broad or narrow sense. In the broad sense, it included all incomes or receipt, in narrow sense only those incomes which are included in the ordinary conception of revenue. Public revenue is necessary for production, equal distribution of national income, increase of capital formation, increase in employment, increase in economic development, increase in national income, control inflation, implementation of economic planning, poverty alleviation, remove regional imbalance and social function.