The objective of this course is to understand various components of Public Finance and discuss in detail Indian Federal 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.
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.
Links:
[1] https://finance.iisuniv.ac.in/courses/subjects/public-finance-2
[2] https://finance.iisuniv.ac.in/academic-year/2019-2020