Which of the following is a "Revenue receipt" of the government?

Profits of SBI, a public enterprise 

The correct answer is Option 3: Profits of SBI, a public enterprise

Revenue receipts are those receipts that do not lead to a claim on the government. They neither create liability nor reduces the assets of the government. 

Let's examine each option to determine which one is a "Revenue receipt" of the government:

1. Sale of 32% shares of a public sector undertaking to Reliance Ltd. Not a Revenue Receipt: This is considered a capital receipt because it involves the sale of assets, specifically shares in a public sector undertaking. Capital receipts pertain to transactions that affect the government's capital account, such as asset sales or borrowings.

2. Fund raised by the government by issuing NSC (National Savings Certificates): Not a Revenue Receipt: This is a capital receipt because issuing NSCs involves raising funds through borrowing or debt instruments. It increases the government’s liability and does not come from regular operations or taxation.

3. Profits of SBI, a public enterprise: Revenue Receipt: Profits from public sector enterprises like SBI are considered revenue receipts. This is because they come from the government's regular business operations and represent earnings rather than transactions affecting capital.

4. Amount borrowed from USA for constructing roads in North-east: Not a Revenue Receipt: This is a capital receipt because it involves borrowing funds, which are recorded in the capital account. The borrowed amount represents an increase in the government’s liabilities.