Examples of public goods include national defense, public parks, and street lighting. Public finance is the science that deals with the income and expenditure of the public authorities. The public authorities include all types of governments; Namely, district, state, and national level governments. Public finance refers to the monetary resources available to governments and also to the study of finance within government and role of the government in the economy.
Public finance management is a broader concept. It requires appropriate planning, resource allocation, and regulating adverse situations through creating fiscal and financial policies and budgets to ensure the nation's growth. This article tries to analyze the concept, definition of public finance and its importance for the countrys development. Public finance is the study of the role of the government in the economy. By this definition, we can understand that public finance deals with the income and expenditure of government entities at any level, be it central, state, or local. Lets understand the scope of public finance to understand how public finance impacts the.
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