Public Finance

Public finance is a study of collection of revenue from the public by the government and spending it for the welfare of society. Although an important part of economics, public finance, as a science is older than economics itself. Actually, it was the forerunner of science to which it is now subordinate. The writings of cameralists dealt more fully with this part of the field of political economy than with any other.   During the last two decades or so, every branch of economics has undergone considerable change under the impact of Keynesian New Economics. Realising this, many foreign writers have attempted to recast Public Finance Theory by incorporating Keynesian analysis. Indian writers, however, have, by and large, modeled their treatment of the subject on the once famous but now largely out of date Dalton’s Public Finance.  This book, in 2 Volumes, brings to light the changes that have come about and comprehensively covers various aspects of public finance–theory, revenue, debt and expenditure. The text has been supplemented with tables and figures which have been updated from authentic sources. Opinions of established economists and erudite scholars have been cited in each major topic relating to public finance to substantiate the text. Every effort has been made to keep the style lucid and the approach analytical. The book caters to the academic needs of the students of Economics. In addition, the aspiring candidates for various competitive examinations will find this book highly useful. It will prove an ideal reference book for teachers and researchers.