Which among the following are the sources of current revenue for the Central Govt?

I. Corporate Tax
II. Profit from Public Enterprises
III. Sale of National Savings Certificates
IV. Loans received from the World Bank
V. Excise duties

Select the correct answer from the codes given below:
Codes:

Explanation

The correct sources of current revenue are:

1) Corporate Tax (I)
2) Profit from Public Enterprises (II)
3) Excise Duties (V)

1) Corporate Tax is a direct tax levied on the profits of companies. It is a primary source of revenue for the central government.

2) Profit from Public Enterprises is also a revenue source for the government as it owns and operates many public sector undertakings.

3) Sale of National Savings Certificates also generates income, but it is considered a capital receipt, not a current revenue.

4) Loans received from the World Bank is also a capital receipt, not a current revenue source.

5) Excise duties, which are taxes on the production and sale of goods, are a source of current revenue for the Central Government.