Public Finance is closely related to the activities of the Government and its organs and deals with the revenue and expenditure of public authorities. In the developing economies the government plays an active and important role in promoting economic development especially through its fiscal policy and budgets. The role of Government in India has undergone a sea change after Independence. The financial system with its changing federal structure and the subsequent 73rd and 74th Constitutional Amendments has changed significantly over the years to suit the demands of decentralization. The book is a modest attempt to bring out the salient features of Public Finance in India, the fiscal federalism and the financial management aspects. It focuses on analysis and understanding of different facets of public finance such as public revenue, public expenditure and public debt and most importantly the significance of efficient and effective financial management for decentralized governance. The articles, which are divided into different chapters, were developed on the basis of the teaching, training and research experiences gained over the past two decade. These articles were specially prepared for the managers and administrators not necessarily dealing directly with finance and accounts but are the decision-makers. This book will appraise the readers the nuances of finance in government and its management, in a simple manner.
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