Public Finance

Paper Code: 
ABF 402
Credits: 
3
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.

7.00

Public Finance: Meaning and Scope, Distinction between Private and Public finance, Principles of Maximum Social Advantage.

7.00

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

10.00

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.
Fiscal Policy of Government- Meaning and Instruments of Fiscal Policy.

10.00

Public Debt: Meaning, Types of Debt, and Limitation of Raising Public Debt.
Deficit Financing: Various concepts of Deficit Financing- Revenue deficit, Fiscal deficit, and Primary deficit

11.00

Federal Finance: Meaning of federal finance, Center- State financial relations in India.
Finance Commission-Recommendations of recent 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: 
2014-2015
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