Public Finance

The present Public Finance book has been prepared, mainly, in view of the requirements of B.Com. IIIrd years students, as per new syllabus of M.P. various Universities.

In preparing the book, due care has been taken to analyze and discuss topics in a way that is intelligible to students of B.Com. IIIrd years standard. It will prove to be a useful book for other students as well who are required to study public finance.

Public Finance Syllabus For B.Com. III Year of Awadhesh Pratap Singh University, Devi Ahilya University, Rani Durgavati Vishwavidyalaya, Dr. Harisingh Gour University, Barkatullah University, Jiwaji University, Vikram University

Unit-1: Public Finance: Meaning, Nature, Scope, and Importance. Difference between private and public finance. Principle of maximum social advantage. Role of state in public finance.

Unit-2: Sources of Revenue: Taxes, Loans, Grants and Aid – Meaning and types, Canons of Taxation, Problem of justice in taxation, Incidence of taxation, Taxable capacity. Impact of Taxation & Tax evasion characteristics of Indian Tax System, Defects & steps of reform.

Unit-3: Principle of public expenditure, Principle of public debts and its methods of redemption. Effects of public expenditure on production and distribution. Public debt in India.

Unit-4: Public finance in India: Sources of revenue of central and state govt., Concept and types of budget, Fiscal Deficit, Deficit financing, and Deficit Budget. Financial relation between central and state.

Unit-5: Constitution and function of the finance commission, Recommendation of the latest finance commission, the Latest budget of central and M.P. Govt. Main heads of Revenue & Expenditure of central & state government, NITI AYOG – Establishment and objective.

Public Finance Book Contents

1. Meaning, Nature, and Scope of Public Finance
2. Principle of Maximum Social Advantage
3. Role of State in Public Finance
4. Sources of Public Revenue
5. Meaning and Types of Taxes
6. Canons of Taxation
7. The problem of Justice In Taxation
8. Impact and Incidence of Taxation
9. Avoidance and Evasion of Taxes in India
10. Shifting and Incidence of Taxes
11. Indian Tax System: Defects and Reforms
12. Principle of Public Expenditure
13. Effects of Public Expenditure
14. Public Debt: Role and Principles
15. Methods of Redemption of Public Debt
16. Public Debt in India
17. Constitution and Functions of Finance Commission
18. Recommendations of the Thirteenth Finance Commission
19. Central Budget 2013-14
20. State Budget of Madhya Pradesh 2013-14
21. Financial Relation Between Central and State Government
22. Main Heads of Revenue and Expenditure of the Central Government
23. Main Heads of Revenue and Expenditure of the State Government
24. Niti Aayog (National Institution for Transforming India)