Introduction to Public Finance

Public finance is the part

Public finance is the part of economics that deals with the revenue and expenditure operations of the government. Prof. Dalton defined it as being con

The subject matter of public finance

The subject matter of public finance is divided into five main branches: public revenue, public expenditure, public debt, financial administration, an

Public revenue deals with the sources

Public revenue deals with the sources of public income, classification of taxes, principles of taxation, and the incidence and shifting of taxes.

Public expenditure studies how the government

Public expenditure studies how the government distributes resources to fulfil different expenses and the principles it should follow while allocating

When public expenditure rises because state

When public expenditure rises because state activities increase, normal revenue may not be enough. Then the government borrows money, creating public