Exam (elaborations)
Exam (elaborations) Uectc602 (Uectc602) Public Finance
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Public FinanceBY DR ANJU JAIN
,What is public finance?
Public finance is the study of the role of the government in the economy . It is the branch of
economics that assesses the government revenue and government expenditure of the public
authorities and the adjustment of one or the other to achieve desirable effects and avoid
undesirable once. The study of how the government raises its income through different activ
and how the government spends this collected income on the expenditure involved in the
activities of the community is termed as Public finance. It is simply concerned with and deals
with the revenue and expenses of the government.
, Public Finance
The government of every country has to perform some obligatory functions and optional
functions .Defence of the country, maintenance of peace and security are some of the
obligatory functions of the government. But the provision of education ,and the establishmen
of hospitals, building of parks ,etc, are optional functions of the government,To perform all th
functions ,adequately & efficiently ,government needs funds from the public.
To perform these functions adequately and efficiently , govt. needs funds from the public.So
publicfinance is that which deals with the income and expenditure of the government.
According of Findlay Shirras, ‘’ Public finance is the study of the principles underlying the
spending and raising of the funds by public authorities.
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