Budget revenue is a structural part of the main financial plan of any state, approved by law.
It is through the budget that financial resources must be mobilized in the amount necessary for their subsequent redistribution and use in order to regulate the economy from the position of the state. It is also necessary to take into account the requirements of social policy. The budgeting and execution process should be based on an appropriate classification. It identifies the target orientation in state activity, arising from the main functions of the state.
Thus, the Russian budget revenues are formed based on their structure (the presence of tax revenues and non-tax deductions). In other words, the issue of fiscal federalism remains relevant.
Budget revenue is the financial resources of a centralized nature necessary for use in the performance of the functions of a given state. They peculiarly express some economic relations that arise during the formation of funds of monetary resources, and then come to the disposal of state bodies.
Budget revenues are revenues to the state treasury depending on the structure of the country. Thus, a unitary state forms the revenue side of the budget through revenues to the state (central) and local budgets. In addition to the two listed revenue parts, the federal state also uses the revenues of the constituent entities of the federations.
Budget revenue is a concept that is used in a broader sense than government revenue, and includes, in addition to budget funds, various extrabudgetary funds, as well as revenues from the public sector as a whole. The largest share in this economic category are tax revenues. Moreover, their share in local budgets and federation revenues is less due to the formation of these articles by attracting their own or regulated revenues. It is necessary to remember such a source of replenishment of the main resource of any country, such as government loans, which generate a third of budget revenue. This is an economic category that is used by the state only in the event of budget deficits. There are two main areas for obtaining such loans:
- Attraction of the general population through the distribution of government securities (for example, bonds);
- at the central and commercial banks under the state security of securities.
The growth in volumes of the second direction of raising funds to the treasury entails an increase in public debt.
If there are difficulties in providing the necessary amount of financial resources, there is another way to regulate economic development by the state - the issue of money. However, this method is unpopular, as it contributes to the growth of money supply only (without commodity security). These measures can lead to only one result - inflation.
