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Public Finance

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52 views2 pages

Public Finance

Uploaded by

Tamanna Yadav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Public Finance (GE41)

Generic Elective (GE) Credit: 6

Course Objective
This course is a non-technical overview of government finances with special
reference to India. The course does not require any prior knowledge of economics. It
will look into the efficiency and equity aspects of taxation of the centre, states and the
local governments and the issues of fiscal federalism and decentralisation in India.
The course will be useful for students aiming towards careers in the government
sector, policy analysis, business and journalism.

Course Learning Outcomes


The module aims to introduce students to the main concepts in public finance, equip
students with a thorough analytical grasp of government taxes: direct and indirect
taxes, and familiarise students with the main issues in government expenditure. At the
end of the module the students should be able to demonstrate their understanding of
the economic concepts of public finances, use diagrammatic analysis to demonstrate
and compare the economic welfare effects of various government policy options, and
demonstrate their understanding of the usefulness and problems related to government
revenues and expenditures .

Unit 1
Theory: Overview of Fiscal Functions, Tools of Normative Analysis, Pareto
Efficiency, Equity and the Social Welfare; Market Failure, Public Good and
Externalities; Elementary Theories of Product and Factor Taxation (Excess Burden
and Incidence)

Unit 2
Issues from Indian Public Finance: Working of Monetary and Fiscal Policies; Current
Issues of India's Tax System; Analysis of Budget and Deficits; Fiscal Federalism in
India; State and Local Finances

References

1. Alam, S. (2016). GST and the states: sharing tax administrations. Economic
and Political Weekly, 51(31).
2. Cullis, J., Jones, P. (1998). Public finance and public choice, 2nd ed. Oxford
University Press.
3. Das, S. (2017). Some concepts regarding the goods and services
tax. Economic and Political Weekly, 52(9).
4. Government of India. (2017). GST - Concept and status - as on 3rd June,
2017. Central Board of Excise and Customs, Department of Revenue, Ministry
of Finance.
5. Hindriks, J., Myles, G. (2013). Intermediate public economics, 2nd ed. MIT
Press.
6. Rao, M. (2005). Changing contours of federal fiscal arrangements in India. In
A. Bagchi (ed.): Readings in public finance. Oxford University Press.
7. Rao, M., Kumar, S. (2017). Envisioning tax policy for accelerated
development in India. Working Paper No. 190, National Institute of Public
Finance and Policy.
8. Reddy, Y. (2015). Fourteenth finance commission: Continuity, change and
1
way forward. Economic and Political Weekly, 50(21) , 27-36.
9. Stiglitz, J. (2009). Economics of the public sector, 3rd ed. W.W. Norton.

Teaching Learning Process


Lectures and tutorials

Assessment Methods
Internal assessment and final examination as per CBCS rules

Keywords
Taxation, public expenditure, policy

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