SHRI. J.A. YADAV Department of Economics P.D.V.P.

Transcript:SHRI. J.A. YADAV Department of Economics P.D.V.P.:
SHRI. J.A. YADAV Department of Economics P.D.V.P. College, Tasgaon Indian Economy At a Glance Total Area of Country: 3287263 sq.km Percentage of World Area: 2.42% (7th place) Forest and Tree Cover Area: 782871 sq. km (23.81% of the total area) Total Forest cover area: 692027 sq.km Agricultural Area: 141.23 million hectares (43% of total) Irrigated area: 40% of net sown area Rainfed Area as % of net sown area: 55% Largest State (Areawise) Rajasthan Smallest State (Areawise) Goa A Few Facts Total Population (Census 2011): 121.06 cr Decadal Growth Rate (2001-11): 17.7% Rural population growth: 12.3% Urban population growth: 31.8% Percentage of World population (2011): 17.5% Total Rural population (2011): 82.35 cr Total Urban population (2011): 17.65 cr Sex ratio (2011) 943 Child Sex ratio (2011): 919 State with highest Female-Male Ratio (2011): Kerla (1084) Population Density of Population (2011): 382 per sq.km Birth Rate (2011): 21.8 per thousand population Death Rate (2011): 7.1 per thousand population Life expentancy (at the time of birth)66.1 yrs Male (2002-6) 64.6 yrs Female (2002-6) 67.7 yrs Literacy Rate: 73% Male: 80.9 Female: 64.6 Population (conti…) It refers to the in detailed highlights of the major and minor factors or issues being studied in public finance. Mrs. Ursula Hicks: “The main content of public finance consist of the examination and appraisal of the methods by which governing bodies provide for the collective satisfaction of wants and secure the necessary funds to carry out their purposes.” Scope of Public Finance Public Revenue Public Expenditure Public Debt Financial Administration Fiscal Policy Economic Stabilization Scope of Public Finance Removal of Poverty Removal of Unemployment Saving Investment Equilibrium Economic Stability Maximization of Social Welfare Economic Development Reduction in Economic Inequality Provision of Collective Wants Importance /Role of Public Finance Economic Growth Economic Stability Economic Planning Importance /Role of Public Finance in Developing Countries: Capital Formation Economic Planning Economic Development Reduction in Economic Inequality Importance /Role of Public Finance in Developed Countries The classical economists like Adam Smith believed in minimum state activities and taxation. J.B.Say : “The very best of all plans of finance is to spend little and the best of all taxes is that which is least in amount” Adam Smith and Ricardo believed that the private expenditure is ‘productive’ and the state expenditure is ‘unproductive’. They remarked, ‘every tax is an evil’ and ‘every public expenditure is unproductive’. Principle of Maximum Social Advantage But, according