Public Finance- II

Paper Code: 
ECO 611
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 
  1. To understand the various aspects of Public Finance.
  2. To determine the role and objectives of Fiscal Policy.
9.00
Unit I: 
  • Meaning and classification of Public Expenditure;
  • Reasons for the growth of Public Expenditure;
  • Effects of Public Expenditure;
  • Trends in Public Expenditure in India.
  • Subsidies in India
9.00
Unit II: 
  • Objectives of  Public Debt;
  • Classification of Public Debt;
  • Burden of Public Debt;
  • Ricardo Pigou Thesis, Buchanan Thesis, BDK Thesis, Musgrave Thesis of Inter Generation Equality.
  • Effects of Public debt;
  • Methods of debt redemption;
  • Loans versus Taxes;
  • Trends in internal and external public debt in India.
9.00
Unit III: 
  • Federal Finance – Justification and Principles
  • Federal Finance in India – Centre – State Financial Relations and Problems
  • Fourteenth Finance Commission
9.00
Unit IV: 
  • Government budget : Meaning & Purpose
  • Types of Government  Budget :Legislative & Executive; Multiple & unified; Conventional & Cash; Revenue & Capital; Incremental & Zero base; Development & Non Development ;  Economic and Functional classification of the Budget;
  • Concept of budget deficit – Revenue deficit, Budget deficit, Fiscal deficit, Primary deficit
  • Introduction to the concept of – Gender Budgeting.
  • Analysis of latest budgets of India and Rajasthan
9.00
Unit V: 
  • Fiscal Policy – meaning, objectives and instruments;
  • Limitations of Fiscal Policy;
  • Deficit Financing-Meaning, Role and Effects.
Essential Readings: 
  1. Tyagi, B.P., Public Finance, Latest edition, Jain Praksash Nath & Company, Meerut.
  2. Bhatia, H. L., Public Finance, Recent Edition, Vikas Publication, New Delhi.
References: 
  1. Musgrave, Richard A., Theory of Public Finane, McGraw Hill, Kognakhusa, Tokyo.
  1. Musgrave, R. A. and P. B. Musgrave, Public Finance in Theory and Practice, McGraw Hill, Kogakusha, Tokyo.
  1. Dalton, Huge, Principles of Public Financ, Rontledge and Hegan Paul Limited, London.
  1. Herber, B. P., Modern Public Finance, Richard D Irvin, Homewood.
  1. Ganguly S., Public Finance, The World Press Private Ltd. Calcutta.
  1. Andley and Sundaram, Public Finance, Latest edition, Ratan Prakashan, Agra.
  1. Mithani, D. M., Modern Public Finance, Himalaya Publishing House, Mumbai.
Academic Session: 
2019-20
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