Coming soon
Public Finance-I
Paper Code:
ECO 511
Credits:
3
Contact Hours:
45.00
Max. Marks:
100.00
Objective:
- To understand the functioning of the state; and
- To understand the importance of taxes
9.00
Unit I:
- Nature and Scope of Public Finance;
- Comparison between Private and Public Finance;
- Concept of Private, Public and Merit goods;
- Major Fiscal Functions-The Allocation Function, the Distribution Function, and the Stabilization Function.
9.00
Unit II:
- The Theory of Optimal Budget;
- Principle of Maximum Social Advantage;
- Sources and Classification of Public Revenue.
9.00
Unit III:
- Meaning and canons of Taxation;
- Base of a tax;
- Buoyancy and Elasticity of a tax;
- Tax Ratio;
- Classification of Taxes: (Single Vs Multiple Taxes, Proportional Vs Progressive Taxes, Direct Vs Indirect Taxes) and their merits and demerits.
- VAT & GST
9.00
Unit IV:
- Impact, Shifting and Incidence of a tax;
- Forward and Backward shifting;
- Shifting of a tax through Tax Capitalization;
- Theories of Tax Shifting;
- Incidence and shifting of commodity taxes under different cost conditions
9.00
Unit V:
- Justice in taxation: Benefit Approach and Ability to Pay Approach;
- Taxable capacity;
- Effects of Taxation;
- Major trends in tax revenue of the central government in India.
Essential Readings:
- Tyagi, B.P., Public Finance, Latest edition, Jain Praksash Nath & Company, Meerut.
- Bhatia, H. L., Public Finance, Recent Edition, Vikas Publication, New Delhi.
References:
- Musgrave, Richard A., Theory of Public Finane, McGraw Hill, Kognakhusa, Tokyo.
- Musgrave, R. A. and P. B. Musgrave, Public Finance in Theory and Practice, McGraw Hill, Kogakusha, Tokyo.
- Dalton, Huge, Principles of Public Finance, Rontledge and Hegan Paul Limited, London.
- Herber, B. P., Modern Public Finance, Richard D Iruin, Homewood.
- Datt, G. and Mahajan, A., Datt & Sundharam’s Indian Economy, S.Chand and Company Limited, New Delhi (latest edition).
- Ganguly S., Public Finance, The World Press Private Ltd. Calcutta.
- Andley and Sundaram, Public Finance, Latest edition, Ratan Prakashan, Agra.
- Mithani, D. M., Modern Public Finance, Himalaya Publishing House, Mumbai.
Academic Session:
