| Public Finance

The course aims to provide practical information on various aspects of Public Finance in the Indian context. The content is designed in two parts, first, to cover basic details of budget, the administrative and legislative processes involved in preparation of budget, understanding the components of revenue and expenditure from the key documents used in the budget. The second part deals with inter-governmental financial relations, involving Union and State Finance Commissions and a brief idea on the financial arrangements of local self-governments, i.e. Urban and Local Bodies. The finances of the Public Sector have several implications for the overall fiscal situation of the government. A brief history of the landscape of the public sector will be covered, including some of the initiatives taken for disinvestment and privatization. The last segment of the course will cover brief aspects of accounting for government expenditure as is shown in the national accounts statistics of India.

Course Objectives

• Understanding the procedural aspects of budgets, their composition and basic concepts.
• Understanding inter-governmental financial relations
• Understanding the intersection of public sector and overall government finances, including accounting for government expenditure.