English
Tamil Nadu Board of Secondary EducationHSC Commerce Class 12
Textbook Solutions8116
Concept Notes88
Syllabus

Public Finance

Advertisements

Topics

  • Introduction
  • Functions of Government  
  • Meaning
  • Definitions 
CISCE: Class 12

Definition: Public Finance

  1. According to Hugh Dalton: “Public finance is one of those subjects which are on the borderline between economics and politics. It is concerned with the income and expenditure of public authorities and with the adjustment of one with the other.” Since we study the activities of the governments in political science too, public finance also constitutes a part of the study of political science.
  2. According to Prof. Findlay Shirras: “Public finance is the study of the principles underlying the spending and raising of funds by public authorities.”

Related QuestionsVIEW ALL [30]

______: Protection from external attacks :: Optional function : Provision of social security

Obligatory functions of the Government :

  1. Provision of employment
  2. Maintaining internal law and order
  3. Welfare measures
  4. Exporting goods and services

Identify and explain the concept from the given illustration:

Alia borrowed money from a friend to buy machinery.

Read the given passage and answer the questions:

The conventional notion of social security is that the government would make periodic payments to look after people in their old age, ill health, disability, and poverty. This idea should itself change from writing a cheque for the beneficiary to institutional arrangements to take care of beneficiaries, including by enabling them to look after themselves, to a large extent.

The write-a-cheque model of social security is a legacy from the rich world at the optimal phase of its demographic transition when the working population was numeral enough and earning enough to generate the taxes to pay for the care of those not working. This model is ill-suited for less, well-off India with growing life expectancy, increasing urbanization, and resultant migration. Social security under urbanization will be different from social security in a static society.
  1. State the conventional notion of social security.
  2. What kind of conceptual change is suggested in the given paragraph?
  3. What is the legacy of social security from the rich world?
  4. Which features of India make the traditional model of social security ill-suited for the economy?

Obligatory functions of the Government :

  1. Provision of employment
  2. Maintaining internal law and order
  3. Welfare measures
  4. Exporting goods and services

Obligatory functions of the Government:

  1. Provision of employment
  2. Maintaining internal law and order
  3. Welfare measures
  4. Exporting goods and services

Obligatory functions of the Government:

  1. Provision of employment
  2. Maintaining internal law and order
  3. Welfare measures
  4. Exporting goods and services

State with reason whether you agree or disagree with the following statement:

The obligatory function is the only function of the Government.

Advertisements
Share
Notifications

Englishहिंदीमराठी
Login
Create free account


      Forgot password?
Course
Use app×