PUBLIC FINANCE: (THEORY AND PRACTICE)

Public Economics is a branch of economics that deals with the role of government in the economy. It examines the allocation of resources, income distribution, and market failures, and analyzes the effects of government interventions, such as taxation, public expenditure, and regulation, on economic efficiency and social welfare. By understanding the principles of Public Economics, policymakers can design policies that promote economic efficiency, social welfare, and sustainable development. In developing countries like India which have adopted economic development huge resources are required for implementation of government investment. The government takes greater interest to create infrastructure, industrial development in vital sector be sides transport and communication. Deficit financing is a useful tool.