Subject This paper deals with the budget revenue classification of the budget system of Russia, and the world practice of its formation. As well, it discusses the advantages and disadvantages of the current classification. Objectives The paper aims to formulate the basic requirements to the modern budget classification, analyze the compliance of the current budget classification with the requirements regarding the regional budget of the Nizhny Novgorod oblast and identify weaknesses and strengths of the modern budget classification, proposing and substantiating the vector of its further development and possible variants of realization. Methods This work uses the principles of historical and logical approaches, common methods of analysis and systematization, and the comparative analysis. Results The paper proposes to use a sectoral approach to budget revenue classification because it allows to identify potential income growth reserves in each region, clearly identify the industries that need further development and support in order to increase budget revenues of the budget system. Relevance The results obtained can be used for further development of the budget classification existing in the Russian Federation in order to identify reserves of growth of budget income not only of the subjects of the Russian Federation, but also of all budget systems of the country.
Keywords: budget revenue classification, budget income types, business processes sector
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