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Does each receipt create a liability or reduce assets?

Exercise and reference answers

Items
  1. Item
    Market borrowing
    Answer
    right
  2. Item
    PSU disinvestment
    Answer
    right
  3. Item
    Recovery of loans
    Answer
    right
  4. Item
    Personal income tax
    Answer
    left
  5. Item
    Customs duty
    Answer
    left
  6. Item
    Dividends from investments
    Answer
    left
  7. Item
    Grants-in-aid from abroad
    Answer
    left
Categories
Left
Revenue receipt
Right
Capital receipt
Instructions
Swipe right for capital receipts, left for revenue receipts.

Explanation

The test is whether the receipt creates a liability or reduces financial assets. Borrowing creates a liability disinvestment and loan recovery reduce assets, so all three are capital. Taxes, dividends and grants create no claim on the government, so they are revenue receipts.
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