Govt.
of every country has to perform certain activities which can broadly be
classified under two headings namely obligatory and optional. Maintenance of
peace and liberty and sovereignty are some of the obligatory functions while
provision of educational facility, medical facilities etc. are some of the
optional functions. To perform all these functions efficiently and adequately,
govt. needs a huge fund of money. Public finance basically concerns with
studying the source and maintenance of govt. funds. Therefore the main scope of
public finance is public revenue, public expenditure, public debt and financial
administration.
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