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Nvkygv
Nvkygv
It still stands for all citizens of the state which may consist of a number of people
Finance : refers to money matters ( revenue , expenditure , debt, payment etc ) and their management
Public finance is called public economics, governmental finance , public sector economic of fiscal
operation of the treasury .
According to gloves public finance is the study of state /government / public authorities or
All sort of local government ranging from small local bodies having very narrow territories jurisdiction
and extremely limited resources to national government commanding larger territories and vast
financial resources.
Public finance is a branch of economics that deals with nature , a principle of revenue and expenditure
of a government and their effects on economic and social system
Public finance is related to financing of the state activities or public finance is a subject which discuss
the financial operation of the fiscal or of the public treasury
Nature of public finance
Has held as a science which deals with the income and expenditure of line government finance
It has been held as study of principles underlying the spending and raising of fund by public authorities
The various theories which form the basis of the collection ;maintenance and expenditure of public
income constitute the subject matter of finance
The scope of public finance is not just to study the composition of public revenue and public expenditure
. it covers a full disclosure of the influence of government fiscal operation on the level of overall activity ,
employment, prices and growth process of the economic system as whole
According to Musgrave the scope of public finance embraces the following three function of the
governments budgetary policy confined to fiscal department the
Allocation branch
Distribution branch
Stabilization branch
These refers to three objectives of budget policy i.e the use of fiscal instrument to secure
Expenditure
Revenue
Debt
Financial institution