Economy Module 2 Class 3- 19/02/2022

Public Finance 2 authorities control the economic activities of our Country: 1) RBI (monetary policy) 2)  Government of India ( Fiscal Policy) Public Finance is the study of Fiscal Policy. Public Finance : 1) It studies how the state raises and spends its resources. 2) Also known as fiscal economics 3) ' Fiscal' is derived from the Greek word basket. 4)Modern state is a Welfare State and not a police state. Tax Taxes are compulsory payments to the government without any expectation of direct return or benefit to the taxpaye…