Elon Musk has said that Twitter might charge a "slight" fee for commercial and government users as part of his plans to increase revenue which has lagged behind rivals such as Facebook.

"Twitter will always be free for casual users, but maybe a slight cost for commercial/government users," Musk said in a tweet on Tuesday. "Some revenue is better than none!" he added in another tweet.

Musk had informed banks last week that he would develop new ways to monetize tweets and crack down on executive pay to cut the company’s costs.

He also told the banks about plans to develop features to grow business revenue, including new ways to make money out of tweets that contain important information or go viral, according to a Reuters report.

After clinching the deal to buy Twitter for $44 billion last week, Musk said he wanted to enhance the platform with new features, make the algorithms open source to increase trust, defeat spam bots, and authenticate all people. 

Also read: Twitter must be politically neutral to deserve public trust, says new owner Elon Musk