ECONOMICS अर्थशास्त्र

Unit-1 : Nature and Scope of Public Finance
1.1. Meaning and Scope of Public Finance; 1.2. Distinction between Private and
Public Finance, Public Goods and Private Goods, Merit Goods; 1.3. Principle of
Maximum Social Advantage; 1.4. Market Failure, Role of the Government;
1.5. Fiscal Policy, Objectives and Instruments.
Unit-2 : Public Expenditure
2.1. Meaning, Classification, Principles of Public Expenditure; 2.2. Cannons of
Public Expenditure, Effects of Public Expenditure; 2.3. Causes of Growth of
Public Expenditure, Wiseman Peacook Hypothesis; 2.4. Trends in Public
Expenditure in India.
Unit-3 : Taxation
3.1. Taxation—Meaning, Cannons of Taxation, Classification of Taxes,
Characteristics of a Good Tax System; 3.2. Division of Tax Burden—The Benefit
Approach, Ability-to-Pay Approach; 3.3. Impact and Incidence of Taxes;
3.4. Taxable Capacity; 3.5. Effects of Taxation on Production and Distribution;
3.6. Tax Reforms, VAT, GST.
Unit-4 : Public Debt and Financial Administration
4.1. Public Debt—Meaning, Types, Sources, Need; 4.2. Effects of Public Debt,
Burden of Public Debt; 4.3. Methods of Debt Redemption; 4.4. The Public Budget—
Kinds of Budget, Economic and Functional Classification of Budget.
Unit-5 : Financial Decentralization in India
5.1. Centre-State Financial Relationship; 5.2. Role of Finance Commission;
5.3. Features of Current Finance Commission.