Meaning of public finance

                                                 MEANING

In simple layman terms, public finance is the study of finance related to government entities. It revolves around the role of government income and expenditure in the economy.

Public Finance means the study of income and expenditure of central, state and local governments and the principles underlying them.

                                        

                                                DEFINITION

According to Prof. Dalton," Public Finance is concerned with the income and expenditure of public authorities, and with the adjustment of the one to the other. The Principles of Public Finance are the general principles which may be laid down with regard to these matters."


Mrs. Ursula Hicks gives a more comprehensive definition. She writes," The main content of Public Finance consists of the examination and appraisal of the methods by which government bodies provide for the collective satisfaction of wants and secure the necessary funds to carry on their purposes."


Thus, public finance studies the income and expenditure of central, state and local governments for the collective satisfaction of wants and the principles which govern income and expenditure.

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