Public Finance

Paper Code: 
FSG 417
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

The objective of this course is to understand various components of Public Finance and impart the understanding of Indian Federal structure.

 

Course Outcome(COs):

Course

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

FSG 417

Public Finance

CO148. Gain knowledge about meaning and components of public finance and understand the basic principle behind the working of government authorities.

CO149. Comprehend the meaning , effect and principles of public expenditure .

CO150. To understand and differentiate between the various sources of government revenue and classify the taxes.

CO151. To know about the concept and types of public debts and deficit financing with special reference to India.

CO152. Build relevant theoretical and practical knowledge about 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

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: 
2020-2021
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