Description

Public Finance

SYBA Semester III

Syllabus

Unit – I : Introduction (12 Lectures)
Meaning and Scope of Public Finance; Public Finance versus Private Finance; Market Failure; Public Goods and Private Goods, Externalities, Efficiency versus Equity; Principles of Sound Finance and Functional Finance; Allocation, Distribution, Stabilisation and Growth Functions of the Government

Unit – II : Fiscal Policy – Budget and Taxation (12 Lectures)
Dalton’s and Musgrave Versions of the Law of Maximum Social Advantage; Role of Government in a Modern Economy; Types of Public Budget; Structure of Public Budget; Role of Taxation; Merits and Demerits of Direct and Indirect Tax Policy; Features of Good Tax System; Concept of Impact, Incidence and Shifting of Taxation; Elasticity and Determination of Tax Burden

Unit – III : Fiscal Policy – Public Expenditure and Debt (12 Lectures)
Canons of Public Expenditure; Classification of Public Expenditure; Wagner’s Law of Public Expenditure; Public Expenditure as an Instrument of Fiscal Policy; Meaning and Types of Public Debt; Burden of Public Debt; Principles of Public Debt Management; Concepts of Deficits

Unit – IV : Indian Public Finance (12 Lectures)
Budget of the Government of India (Previous Financial Year); Sources of Public Receipts (Tax and Non-Tax, Introduction to GST); Components of Public Expenditure; Sources of Public Borrowing and Debt Liabilities; Deficits; Appraisal of FRBM Act 2004; Fiscal Federalism Fourteenth Finance Commission Recommendations