Public Finance

Paper Code: 
FSG 417
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 impart the understanding of Indian Federal structure.

 

Course

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

FSG 417

Public Finance

CO147 To comprehend the concept and evaluate the scope and importance of public finance and the basic principle behind the working of government authorities.

CO148 Critically examine the effect of public expenditure on the economy and understand the various principles of public expenditure.

CO149 To distinguish between the various sources of government revenue and classify the various types of  taxes.

CO150 To analyse the effect of public debts and deficit financing with special reference to India.

 

CO151 To critically evaluate the Federal structure of India and the objectives and recommendations of various Finance Commissions.

 

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

 

8.00
Unit I: 
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:

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

11.00
Unit III: 
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

:
Meaning, Types of Debt,3
 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:

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.
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: 
2021-2022
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