Public Finance

Paper Code: 
AAF614
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.

9.00
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.

9.00
Unit II: 
Public Expenditure

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

9.00
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.

9.00
Unit IV: 
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.

9.00
Unit V: 
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 PvtLtd.,Delhi
• B.P.Tyagi – Public Finance, Jai PrakashNath& 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 Mcgraw Hill

• M.L.Seth, Money, Banking, International Finance and Public Finance, Educational Publication, Agra.

Academic Year: 
2019-2020
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