Q. 19

State whether the

Answer :

a) The statement is true. The government collects a higher rate of taxes from the rich and spends it on the welfare of the poor. This helps to reduce the inequalities of income.

b) The statement is false. The recovery of loans is a capital receipt and does not affect the revenue receipts. Capital receipts are those receipts that either create liability or cause a reduction in the assets of the government.

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