Public Finance

Paper Code: 
AAF 614
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.

Course Outcome (COs):

 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 614

 

Public Finance

 

CO 212: Acquire knowledge about meaning and components of public finance and understand the basic principle behind the working of government authorities.

CO 213: Comprehend the meaning, effect and principles of public expenditure.

CO 214: Understand and differentiate between the various sources of government revenue and classify the taxes

CO 215: Understand the concept and types of public debts and deficit financing with special reference to India.

CO 216: 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, Internal exams Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

9.00
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
Public  Expenditure:  Meaning,  Nature  &  Canons expenditure, Effects of Public Expenditure on economic stabilization, production, distribution and economic growth.
 
9.00
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
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
Federal Finance: Meaning of federal finance, Center- State financial relations in India.
 
Finance Commission-Recommendations   of   recent 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: 
2020-2021
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