Public Finance

Paper Code: 
FSG 417
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to understand various components of Public Finance and discuss in detail Indian Federal Finance

8.00
Unit I: 
Public Finance

Public Finance: Meaning and Scope, Distinction between Private and Public finance, Principles of Maximum Social Advantage: Dalton’s Pigou and Musgraves condition of maximum social advantage.

8.00
Unit II: 
Public Expenditure

Public Expenditure: Meaning, Nature & Canons of Public expenditure, Effects of Public Expenditure on economic stabilization, production, distribution and economic growth.

11.00
Unit III: 
Public Revenue:

Public Revenue: Meaning, Canons of taxation, Incidence and Effect of Taxation and Classification of Taxes: Single vs. Multiple, Proportional vs. Progressive, Direct and Indirect Tax. GST -concept and implications, Problem of tax evasion and black money

10.00
Unit IV: 
Public Debt & Deficit Financing

Public Debt: Meaning, Types of Debt, recent trends of public debt in India.

Deficit Financing: Various concepts of Deficit Financing- Revenue deficit, Fiscal deficit, and Primary deficit.

8.00
Unit V: 
Federal Finance & Finance Commission

Federal Finance: Meaning of federal finance, Center- State financial relations in India.

Finance Commission: Structure, Functions & Recommendations of latest finance commission.

Essential Readings: 

• H.L.Bhatia – Public Finance, Vikas Publishing House Pvt Ltd.,Delhi
• B.P.Tyagi – Public Finance, Jai Prakash Nath & Co., Meerut.
• Jain, Khanna and Tiwari, “Banking and Public Finance”, V.K.India Enterprises, New Delhi.

References: 

• Musgrave R.A. and Musgrave P.A. – Public Finance in Theory and Practice., Tata Mc graw Hill
• M.L.Seth, Money, Banking, International Finance and Public Finance, Educational Publication, Agra.

Academic Year: 
2019-2020
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