Public Finance

·         Nature and scope of public finance

·         Fiscal functions: an overview

·         Public goods, merit goods and  private goods

·         Market failure and externalities - Government intervention

Principle of maximum social advantage 

·         Public Expenditure: meaning, objectives, principles

·         Classification of public expenditure

·         Canons and effects of public expenditure;

·         Reasons for growth of public expenditure, Wagner’s law of increasing state activities; Peacock-Wiseman hypotheses

·         Public expenditure in India

·         Sources of public revenue;

·         Taxation - meaning, canons and classification of taxes,

·         Impact and incidence of taxes - Meaning

·         The benefit and ability to pay approaches,

·         Taxable capacity,

·         Effects of taxation,

·         Characteristics of a good tax system,

·         Structure and trends of taxation in India

·         Objectives of public debt;

·         Similarities & dissimilarities between private & public debt

·         Classification of public debt;

·         Effects of public debt;

·         Methods of debt redemption;

·         Loans versus taxes;

·         Debt management,

·         Trends of public debt in India

·         Kinds of government budgets;

·         Economic and functional classification of the budget. ,

·         Centre state financial relationship;

·         Role of finance commission;

·         Recommendations of the latest finance commission,

·         Fiscal federalism in India,

·         Current central government budget