PUBLIC FINANCE

Paper Code: 
DE BSG 613B
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course outcome (COs):

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

 
 

On completion of this course, the students will be able to:

CO 191 Comprehend the concept and evaluate the scope and importance of public finance and the basic principle behind the working of government authorities.

CO 192 Critically examine the effect of public expenditure on the economy and understand the various principles of public expenditure.

CO 193 Distinguish between the various sources of government revenue and classify the various types of  taxes.

CO 194 Analyse the effect of public debts and deficit financing with special reference to India.

CO 195 Critically evaluate the Federal structure of India and the objectives and recommendations of various Finance Commissions.

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, demonstrations , Team teaching.

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

  

 

12.00
Unit I: 
Public Finance

 

  • Meaning and Scope,
  • Distinction between Private and Public finance.
  • Role of public finance in augmenting allocative efficiency, distribution justice and economic stability in the economy

Principles of Maximum Social Advantage: Dalton’s Pigou and Musgraves condition of maximum social advantage.

 

12.00
Unit II: 
Public Expenditure:
  • Meaning, Nature and significance  
  • Canons of Public expenditure.
  • Effects of Public Expenditure on economic stabilization, production, distribution and economic growth.

Public Budget:

  • kinds of budget, economic and functional classification of the budget; Balanced and unbalanced budget, Steps of Preparation of union budget.

 

12.00
Unit III: 
Public Revenue

 

  • Meaning,
  • Canons of taxation,
  • Incidence and Effect of Taxation,
  • Classification of Taxes(Single vs. Multiple, Proportional vs. Progressive, Direct and Indirect Tax).
  • VAT, GST, concept and implications.
  • Problem of tax evasion and black money, Role od direct and indirect taxes in developing countries

 

12.00
Unit IV: 
Public Debt

           Meaning

  • Types of Debt,
  • Theories of Public Debt.

Deficit Financing:

  • Various concepts of Deficit Financing- Revenue deficit, Fiscal deficit, and Primary deficit.

 

12.00
Unit V: 
Federal Finance

 

·         Meaning of federal finance

·         principles of federal finance, Centre- State financial relations in India.

Finance Commission-

·         Introduction , Structure and functions

·         Recommendations of recent Finance Commission.

Present fiscal policy of India

Essential Readings: 
  • H.L.Bhatia – Public Finance, Vikas Publishing House Pvt Ltd.,Delhi
  • B.P.Tyagi – Public Finance, Jai Prakash Nath & Co., Meerut.
  • Musgrave R.A. and Musgrave P.A. – Public Finance in Theory and  Practice., Tata     Mc graw Hill
  • Sarma L.S and MankarV.G: Public Finance Theory and Practice, Himalaya Publication

 

 

References: 
  • Jain, Khanna and Tiwari, “Banking and Public Finance”, V.K.India Enterprises, New Delhi
  • M.L.Seth, Money, Banking, International Finance and Public Finance, Educational Publication, Agra.
  • Mithani D.M, Money, Banking, International Trade and Public Finance. Himalaya Publishing House.

RESOURCES:

·        

National Digital Library

·        

World Ebook Library

·        

https://fincomindia.nic.in/

·        

https://finmin.nic.in/

 

REFERENCE JOURNALSS:

·        

Public Finance Review: https://journals.sagepub.com/home/pfr

·        

South Asian Journal of Macroeconomics and Public Finance: https://journals.sagepub.com/home/smp

·        

International Journal of Public Finance: https://dergipark.org.tr/en/pub/ijpf

 

Academic Year: 
2023-2024
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