Strategic Public Finance

(Paper 3 of P. G. Diploma in Taxation - 200 hours)

Part 1 - Economics

SPF 1 - Introduction to Microeconomics

SPF 2 - Theory of consumer behaviour

SPF 3 - Production and Cost

SPF 4 - Theory of Firm under Perfect Competition

SPF 5 - Market equilibrium

SPF 6 - Introduction to macroeconomics

SPF 7 - National income accounting

SPF 8 - Money and banking

SPF 9 - Determination of income and employment

SPF 10 - Government budget and the economy

SPF 11 - Open economy macroeconomics

SPF 12 - Indian economy on the eve of Independence

SPF 13 - Indian economy 1950-1990

SPF 14 - Economic reforms since 1991

SPF 15 - Human capital formation in India

SPF 16 - Rural Development

SPF 17 - Employment: Growth, informalisation and other issues

SPF 18 - Environment and sustainable development

SPF 19 - Development Experiences of India: A Comparison with Neighbours

SPF 20 - Introduction to Public Finance

Part 2 - Public Finance

SPF 21 - Goals of State in Different Economies

SPF 22 - Deciding Public Expenditure

SPF 23 - Evaluating Public Expenditure

SPF 24 - Public-Private Partnerships

SPF 25 - Direct Taxes (Personal, Property & Corporation)

SPF 26 - Indirect Taxes (Customs, GST, VAT & Excise)

SPF 27 - Rates, Fees, Cess, and Penalty

SPF 28 - Social Welfare Taxes (Provident Fund & Insurance)

SPF 29 - Determining Taxes (Rate & Structure)

SPF 30 - Evaluating Taxes (Equity, Incidence and Effect)

SPF 31 - Forms of Public Debt

SPF 32 - Payment of Interest

SPF 33 - Conversion and Redemption of Debt

SPF 34 - Public Budget and Accounts

SPF 35 - Control and Audit

SPF 36 - Federal Finance and Commission

SPF 37 - Structural Gaps in Public Finance

SPF 38 - International Fiscal Coordination

SPF 39 - Comparative Public Finance

SPF 40 - Digital Taxation and Emerging Trends

Courseware

SPF 1 - Introdcution to Microeconomics

Marshall (1920) Principles of Economics (8th Edn) Macmilan

Sloman (2018) Economics (10th Edn) Pearson

SPF 2 - Theory of Consumer Behaviour

.

SPF 3 - Production and Cost

.

SPF 4 - Theory of Firm under Perfect Competition

.

SPF 5 - Market equilibrium

.

SPF 6 - Introduction to Macroeconomics

.

SPF 7 - National Income Accounting

.

SPF 8 - Money and Banking

.

SPF 9 - Determination of Income and Employment

.

SPF 10 - Government budget and the economy

.

SPF 11 - Open economy macroeconomics

.

SPF 12 - Indian economy on the eve of Independence

.

SPF 13 - Indian economy 1950-1990

.

SPF 14 - Economic reforms since 1991

.

SPF 15 - Human capital formation in India

.

SPF 16 - Rural Development

.

SPF 17 - Employment: Growth, informalisation and other issues

.

SPF 18 - Environment and sustainable development

.

SPF 19 - Development Experiences of India: A Comparison with Neighbours

.

SPF 20 - Introduction to Public Finance

Traditional - Obtaining and applying the material means necessary for fulfilling the proper functions of the State. [Carl C. Plehn (1911)]. The study comprises public expenditure, public revenue, public debt and financial administration.

Modern - Public finance deals with the economics of public sector and the importance of public sector lies in the fact that the market mechanism alone cannot perform all economic functions [R. A. Musgrave (1973)]. Fiscal function comprises: Allocation of public goods, Distribution of income equitably and Stabilization of economy.

Strategic - Public Finance comprises any revenues or expenditures passing through state budgets, derived from whatever source and however spent [S. J. Bailey (2004)]. Public finance gives effect to the constitutional relationship between state and citizen.

SPF 21 - Goals of State in Different Economies

.

SPF 22 - Deciding Public Expenditure

.

SPF 23 - Evaluating Public Expenditure

.

SPF 24 - Public-Private Partnerships

.

SPF 25 - Direct Taxes (Personal, Property & Corporation)

.

SPF 26 - Indirect Taxes (Customs, GST, VAT & Excise)

.

SPF 27 - Rates, Fees, Cess, and Penalty

.

SPF 28 - Social Welfare Taxes (Provident Fund & Insurance)

.

SPF 29 - Determining Taxes (Rate & Structure)

.

SPF 30 - Evaluating Taxes (Equity, Incidence and Effect)

.

SPF 31 - Forms of Public Debt

.

SPF 32 - Payment of Interest

.

SPF 33 - Conversion and Redemption of Debt

.

SPF 34 - Public Budget and Accounts

.

SPF 35 - Control and Audit

.

SPF 36 - Federal Finance and Commission

.

SPF 37 - Structural Gaps in Public Finance

.

SPF 38 - International Fiscal Coordination

.

SPF 39 - Comparative Public Finance

.

SPF 40 - Digital Taxation and Emerging Trends

.

Reference

India budget

India Annual Financial Statement 2024-25

India Economic Survey 2023-24

Bihar budget

Bihar Annual Financial Statement 2024-25

Bihar Economic Survey 2023-24

Bihar Budget Manual

Books & Articles on Public Finance

Seventh Schedule to the Constitution of India - List I comprising subjects of expenditure and revenue for the Union Government, List II comprises the same for the States and List III comprises the same for both (Union and States) concurrently.

Jindal Stainless Ltd. v State of Haryana AIR 2016 SC 5617 = TNC 2016 (11) 1 - Power of levying tax whether high or low is an attribute of sovereignty subject only to constitutional safeguards.

Indian Med. Pharma. Corp. Ltd. v Kerala Ayurvedic Co-op. Soc. Ltd. AIR 2023 SC 314 = TNC 2023 (1) 1 - State does not have absolute discretion while spending public money.