Dictionary of Public Finance

The government is big and important in our times. We depend on the government to protect ourselves against external aggression, internal disorders, pollution, epidemics, social injustice, exploitations, Unemployment and poverty. Furthermore, a government is expected, to provide educational, medical and housing facilities, build roads, bridges and communications networks, ensure personal freedom and enforcement of contracts and, maintain democratic institutions and cordial relations with foreign countries. Though the list is not exhaustive, it does provide an idea of the amplitude of the multifarious activities of modern governments. Public finance, as an important branch of economics, deals with government budgeting, taxation, and public expenditure, borrowings, deficit financing, and intergovernmental financial relations. A working knowledge of terms and concepts pertaining to government finances is a must for every enlightened citizen. This dictionary contains a careful selection of key terms and concepts in public finance, which are considered important for a cross-selection of readers including teachers and students of economics, commerce, law and management. This valuable reference work will also be useful for bankers, corporate executives, legislators and government officials.