All those elements which create liability and decrease the assets of government are known as:

The correct option is Capital Receipts.

To understand why this is the correct answer, let us look at the definition of government receipts in the budget. Government receipts are broadly categorized into two types:
1. Revenue Receipts
2. Capital Receipts

Revenue Receipts: These are receipts that do not create any liability for the government and do not lead to any reduction in the assets of the government. Examples include tax revenues and non-tax revenues (like interest, dividends, etc.).

Capital Receipts: These are receipts of the government that either:
1. Create a liability for the government (for example, market borrowings/loans taken by the government, which must be repaid in the future).
2. Decrease/reduce the assets of the government (for example, disinvestment, which involves selling the government's shares or assets in public sector undertakings, or the recovery of loans which reduces financial assets).

Therefore, all those elements or receipts of the government which either create a liability or cause a decrease in the assets of the government are classified as Capital Receipts.