SCOPE OF PUBLIC FINANCE

SCOPE OF PUBLICE FINANCE :-

 PUBLIC REVENURE:-

It deals with the alternative sources of state income. It discusses and analyses comparative advantage and disadvantages of various forms of revenue and the principles which should govern the choice between them. The sources of public revenue is taxation, non-tax revenues, public debt and creation of additional currency claim, deposit, fees, and assessment etc. It deals within the canon of taxation and the taxation is the main sources of public revenue.

(A) Taxation includes the various principles governing the choice of tax measures, the problem of incidence of Taxation, the effect of Taxation on the working of the economy. 

(B) Non-tax revenue includes dividends and profits from public undertaking, grants, fees, fines, and interest receipts etc. each of them is of significant importance in overall policies of the government in general and in particular. 

(C) In the modern governments, the public debt has become an important source of revenue. It is assumed as an important instrument for regulating the working of the economy

PUBLIC EXPENDTIURE:-

It deals with the study of the principle and problems relating to the expenditure of public funds. It contributes to financial flows of economy and influences its demand and supply patterns. It also a major tool for implementing welfare, growth, stabilization, and policies of the government. Further, it also deals with the theoretical set-up of different criteria and the latest trends which have emerged in the public expenditure and try to find out the factors which were responsible for the latest trends.

FINANCIAL  ADMINISTRATION :-

Under financial administration, 3it concerned with the Government machinery which is responsible for performing various functions of the states. It includes public budget, its passing, implementation, audition and similar other matters. 

ECONOMIC STABILIZATION :-

Now-a-days economic stabilization, economic growth, and distributive justice is the major issues in economic policies of modern government which need to be treated separately.

FEDERAL FINANCE :-

Existence of a multilayer system of government necessitates a corresponding division of functions and inter-governmental financial flows, financial imbalances and their rectification. Federal finance is therefore an integral part of the modern public fiancé.

PUBLIC FINANCIAL MANAGEMENT :-

The scope of public finance includes the management of public funds, including budgeting, accounting, financial reporting, internal controls, and auditing in the public sector. It aims to ensure transparency, accountability, and good

ECONOMIC POLICY ANALYSIS :-

Public finance provides a framework for analyzing the economic impact of government policies and programs. It examines the distributional effects, efficiency implications, and behavioral responses associated with different fiscal measures.

PUBLIC ECONOMIC :-

Public finance is closely linked to public economics, which studies the allocation of resources and the behavior of individuals, firms, and markets in the presence of government interventions. It analyzes public goods, externalities, market failures, and the role of government in correcting market imperfections.

The scope of public finance extends to both theoretical analysis and practical policy implementation. It plays a crucial role in informing government decision-making, promoting fiscal sustainability, and ensuring the efficient allocation of public resources for the benefit of society.