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Public Finance
Course Objectives:
This course will enable the students to-
The objective of this course is to understand various components of Public Finance and impart the understanding of Indian Federal structure.
Course Outcomes (COs):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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ABF 402 |
PUBLIC FINANCE |
CO 145 Gain knowledge about meaning and components of public finance and understand the basic principle behind the working of government authorities. CO 146 Comprehend the meaning, effect and principles of public expenditure. CO 147 To understand and differentiate between the various sources of government revenue and classify the taxes. CO 148 To know about the concept and types of public debts and deficit financing with special reference to India. CO 149 Build relevant theoretical and practical knowledge about Federal structure of India and the objectives and recommendations of various Finance Commissions.
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Approach in teaching: Interactive Lectures, Discussion, Tutorials, demonstrations, Team teaching.
Learning activities for the students: Self learning assignments, Effective questions, Seminar presentation, Giving tasks, Chart Preparations. |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
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.
Public Expenditure: Meaning, Nature & Canons of Public expenditure, Effects of Public Expenditure on economic stabilization, production, distribution and economic growth.
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
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.
Federal Finance: Meaning of federal finance, Center- State financial relations in India.
Finance Commission: Structure, Functions & Recommendations of latest finance commission.
• 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.
• 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.
