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