Meaning and scope of government pdf

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The Nature Of Political Science Definition,Theory, And Scope

What does Public Finance mean? Public finance is a study of income and expenditure or receipt and payment of government. Professor Bastable, an English economist defines public finance as a subject that deals with the expenditure and income of the public authorities of the state. Both the aspects income and expenditure relate to the states financial administration and control. Read and share the given article in Hindi. Dalton defined the subject as one which concerns itself with the income and expenditure of public authorities and the adjustment of one to the other.

But the public is collected name for an individual within an administrative territory and finance. In public finance, we study the finances of the Government. Thus, public finance deals with the question of how the Government raises its resources to meet its ever-rising expenditure. Accordingly, the effects of taxation, Government expenditure, public borrowing and deficit financing on the economy constitutes the subject matter of public finance.

Thus, Prof. Further, it was thought that the Government budget must be balanced. Public borrowing was recommended mainly for production purposes.

During a war, of course, public borrowing was considered legitimate but it was thought that the Government should repay or reduce the debt as soon as possible. Public authorities undertake activities for individuals living within an administrative territory. Finance usually means income and expenditure. Different economists have defined public-finance differently. Some of the definitions are given below. It is concerned with the income and expenditure of public authorities and with the mutual adjustment of one another.

The principal of public finance are the general principles, which may be laid down with regard to these matters. The scope of public finance is not just to study the composition of public revenue and public expenditure.

It covers a full discussion of the influence of government fiscal operations on the level of overall activity, employment, prices and growth process of the economic system as a whole.

Thus, the function of the allocation branch of the finance department is to determine what adjustments in allocation are needed, who shall bear the cost, what revenue and expenditure policies to be formulated to fulfill the desired objectives. The function of the distribution branch is to determine what steps are needed to bring about the desired or equitable state of distribution in the economy and the stabilization branch shall confine itself to the decisions as to what should be done to secure price stability and to maintain full employment level.

In its positive aspect: The study of Government finance is concerned with what are sources of public revenue, items of public expenditure, constituents of the budget, and formal as well as effective incidence of the fiscal operations.

The basic norm of modern finance is general economic welfare. On normative consideration, public finance becomes a skillful art, whereas, in its positive aspect, it remains a fiscal science. Public revenue concentrates on the methods of raising public revenue, the principles of taxation and its problems. In other words, all kinds of income from taxes and receipts from the public deposit are included in public revenue. It also includes the methods of raising funds.

It further studies the classification of various resources of public revenue into taxes, fees, and assessment etc. In this part of Government finance, we study the principles and problems relating to the expenditure of public funds. This part studies the fundamental principles that govern the flow of Government funds into various streams. In this section of public-finance, we study the problem of raising loans. The public authority or any Government can raise income through loans to meet the shortfall in its traditional income.

The loan raised by the government in a particular year is the part of receipts of the public authority. Now comes the problem of organization and administration of the financial mechanism of the Government.

In other words, under financial or fiscal administration, we are concerned with the Government machinery which is responsible for performing various functions of the state. This part describes the various economic policies and other measures of the government to bring about economic stability in the country. Public-finance is broadly divided into four branches. Under Public Expenditure, we study the various principles, effects, and problems of expenditure made by the public authorities.

Under the branch of Public Revenue, we study the various ways of raising revenues by the public bodies. We also study the principles and effects of taxation and how the burden of taxation is distributed among the various classes in society. Public Debt is the study of the various principles and methods of raising debts and their economic effects.

It also deals with the methods of repayment and management of public debt. The branch of Financial Administration deals with the methods of budget preparation, various types of budgets, war finance, development finance, etc. We all know that the existence of a large and growing public sector is a reason enough to study public-finance.

Adam Smith in his monumental work. The Wealth of Nations laid out the basic jobs of the government. The government is to play an important role in providing for the defense of the nation, the administration of justice, and in the provision of those goods and services not wholly to be the result of the ordinary private activity. Adam Smith also had an acute awareness of the problems that would be associated with raising the funds needed to finance these obligations. The four maxims focus attention on matters of economic efficiency as well as equity.

So, The word public refers to general people and the word finance means resources. So public finance means resources of the masses, how they are collected and utilized.

Thus, Public Finance is the branch of economics that studies the taxing and spending activities of government. The discipline of public-finance describes and analyses government services, subsidies and welfare payments, and the methods by which the expenditures to these ends are covered through taxation, borrowing, foreign aid and the creation of money. From the above discussion, we can say that the subject-matter of public finance is not static, but dynamic which is continuously widening with the change in the concept of state and functions of the state.

As the economic and social responsibilities of the state are increasing day by day, the methods and techniques of raising public income, public expenditure and public borrowings are also changing. In view of the changed circumstances, it has given more responsibilities in the social and economic field. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed. F Finance Content. So public finance means income and expenditure of the public authorities and adjustment of one to the other. Further, modern public finance has two aspects:. Public Revenue:. Public Expenditure:. Public Debt:. Financial Administration:. Economic Stabilization:. Need for Public Finance:. Social Entrepreneurship Meaning and Factors of Success. Introduction, Meaning, and Definition. Leave a Reply Cancel reply Your email address will not be published.

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Public Finance: Meaning, Definition, Scope, and Divisions

As an introduction to the subject matter, Government, we shall be looking at government from 3 different angles. It can also be referred to as a process of administration of a given state. This is because of the activities of a given government involves the procedure specifically laid down in the constitution of the state. Government include the study of political institutions in the state, ideas, values and doctrines about politics for the thinkers on what constitutes the welfare of the people. In the tertiary institutions, government as a study is known as Political science. In our next class, we will be talking about the State and its Features. We hope you enjoyed the class.

As we all know, Political Science is concerned with different political activities of human beings contemplation, occasions, activities, and organizations. It incorporates both comprehensions and clarifying the universe of governmental issues that are surrounding us. Conversely, at changed stages of history Political Science has accepted altered meanings, and its scope is always splayed. Though different political thinkers have discussed political Science since ancient times, the history of Political Science as an academic discipline is not very old. In this unit, we shall discuss the meaning of Political Science and politics. At the same time, we shall also discuss the nature of political science definition, theory, and scope. Man is a social animal.

Public administration refers to an activity with which the government is involved. So it can be said that the word public administration has got more significance in the background of government functions. This article will help you to understand the perfect meaning, nature, scope, and significance of public administration. I have explained it in an easy way for a better understanding of you. Public Administration is the combination of two words that is Public and Administration.


theory of the size and scope of government on the basis of comparative politics. The meaning of these assumptions is illustrated in Figure 1, where we have.


36.302 Scope of work.

Found a mistake? Let us know! Share this Practice Test. In the Roman era, wealthy aristocrats and high government officials also travelled for pleasure. Seaside resorts located at Pompeii and Herculaneum afforded citizens the opportunity to escape to their vacation villas in order to avoid the summer heat of Rome.

What does Public Finance mean? Public finance is a study of income and expenditure or receipt and payment of government. Professor Bastable, an English economist defines public finance as a subject that deals with the expenditure and income of the public authorities of the state.

Meaning and Scope of Government

Political science is that branch of the social sciences that studies the state, politics, and government.

Public Finance: Meaning, Definition, Scope, and Divisions

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. By this definition, we can understand that public finance deals with income and expenditure of government entity at any level be it central, state or local. However in the modern day context, public finance has a wider scope — it studies the impact of government policies on the economy. As the name suggests, public income refers to the income of the government. The government earns income in two ways — tax income and non-tax income.

Public Administration has gained immense importance since the emergence of Administrative state. In Ancient Greek, Roman and Indian political system gave more importance to the concept of Administration. In simple sense Public Administration is state mechanism. In every Political System administration have significant role. In general sense Administration can be defined as the activities of groups co-operating to accomplish common goals. It is a process of management which is practiced by all kinds of organisations from the household to the most complex system of the government. According to L.

What does Public Finance mean? Public finance is a study of income and expenditure or receipt and payment of government. Professor Bastable, an English economist defines public finance as a subject that deals with the expenditure and income of the public authorities of the state. Both the aspects income and expenditure relate to the states financial administration and control. Read and share the given article in Hindi. Dalton defined the subject as one which concerns itself with the income and expenditure of public authorities and the adjustment of one to the other.

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