Course Details

Subject {L-T-P / C} : HS7406 : Public Finance { 3-0-0 / 3}

Subject Nature : Theory

Coordinator : Dr. Narayan Sethi

Syllabus

Unit-1: Meaning and Scope of Public Finance: Role of Government in Economy, Theory of Social goods, Theory of Public Choice, Principle of Public Finance and Princeple of Maximum social advantage (MSA)
Unit-2: Public Expenditure: Meaning and scope of public expenditure, Role and Objective of public expenditure Growth, Cannon of Public Expenditure, and structure of Public Expenditure, Public expenditure management, cost benefit analysis of public expenditure, evaluation of public expenditure-principle and problems, subsidies
Unit-3: Public Revenue: Meaning and significance of public revenue, Sources of Public Revenue, classification of public revenue, principle of taxation, taxable capacity, kinds of taxes, single and multiple taxation, problem of double taxation, effect of taxation, Issues in individual income taxation, corporate taxation, income tax integration, principle of taxation, indirect taxation-principle and issues, value added tax (VAT)-principle and issues, and Non-tax revenue
Unit-4: Fiscal Policy: Fiscal policy and economic stability, fiscal policy for full employment and economic growth, fiscal policy in developing economies, role of defici financing, deficit financing in India
Unit-5: Public Debt: Burden of public debt, public debt management, growth of public debt, and public debt in India, effect of public debt and classification of public debt.
Principle of federal finance, center-state relationship

Course Objectives

Course Outcomes

There is growing interest in the subject as it will provide necessary tools and conceptual framework to understand the public Finance. The preliminary requirement of this subject, the students should have background of Economics.

Essential Reading

Supplementary Reading