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Public Finance
The objective of this course is to understand various components of Public Finance and discuss in detail Indian Federal Finance.
Course Outcome (COs):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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AAF 614 |
Public Finance
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Upon successful completion of this course, the student will be able to: CO 203: Explain the meaning and components of public finance and understand the basic principle behind the working of government authorities. CO 204: Analyze the meaning, effect, and principles of public expenditure. CO 205: Differentiate and understand the various sources of government revenue and classify the taxes CO 206: Classify the different types of public debts and deficit financing with special reference to India. CO 207: Prepare relevant theoretical and practical knowledge about 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, Internal exams Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
Meaning and Scope, Distinction between Private and Public finance.
Principles of Maximum Social Advantage: Dalton’s Pigou and Musgraves condition of maximum social advantage.
- Meaning, Nature & Canon of Public expenditure.
- Effects of Public Expenditure on economic stabilization, production, distribution and economic growth.
Meaning, Canons of taxation, Incidence and Effect of Taxation and Classification of Taxes: Single vs. Multiple, Proportional vs. Progressive, Direct and Indirect Tax.
Meaning, Types of Debt, and Limitation of Raising Public Debt.
Deficit Financing: Various concepts of Deficit Financing- Revenue deficit, Fiscal deficit, and Primary deficit.
Meaning of federal finance, Center- State financial relations in India.
Finance Commission-Recommendations of recent Finance Commission.
• 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.
• 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.
