Read some salient features of 'Budget 2022' and answer questions.
BUDGET: 2022-23
₹60000 crore allotted to provide tap water connections to 3.8 crore households. Provision of tap water by the government is an example of:
Answer & explanation
Correct answer: option 4
Capital receipts refers to those receipts which either result in creation of liability or in reduction of assets.
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.
Private goods are the goods which are produced by privately owned businesses.
Public goods are the goods which available to all (“nonexcludable”) and that can be enjoyed over and over again by anyone without diminishing the benefits they deliver to others (“nonrival”).
As, provision of tap water is a nonexcludable and nonrival commodity thus, will be considered as a "Public good".