Public Finance in India
meaning
nature
definition
difference between public finance and private finance
objectives
determination of expenditure
credit status
right to print currency
elasticity of finance
effect on economy
structure
public expenditure
public revenue
public debt
fiscal policy
financial administration
public finance is basically the study of principles of income and expenditure of the government at central, state and local levels.
according by prof. findlay shirras, "public finance is the study of principles underlying the spending and raising of funds by public authorities."
the word 'public finance' is a combination of two words; public meaning the individuals living in a particular territory and finance meaning income and expenditure
meaning
it is the expenditure incurred by the government for protection of their citizens, for satisfying their needs and promoting social and economic welfare.
classification
revenue expenditure
salaries
administration costs
allowances and pensions
capital expenditure
investments
loans granted to state government
repayment of govt loans
developmental expenditure
construction of roads, bridges, dams,etc
education
exp on health
R & D
nondevelopmental expenditure
expenditure on wars
expenditure on defence
expenditure on unexpected events
reasons for growth
increase in the activities of the government
rapid increase in population
growing urbanisation
increasing defence expenditure
spread of democracy
inflation
industrial development
disaster management
meaning
the aggregate collection of income with the government
sources
tax
non tax