Public FinancePublic Financeis all about the collection and utilization of resources. Thus, it is the branch of economics that studies the taxing and spending activities of government.
DefinitionFindlay Shirras“Public finance is the study of principles underlying the spending and raising of funds by public authorities”.According to Hugh Dalton“Public finance is concerned with the income and expenditure of public authorities,and with the adjustment of the one to the other.
Nature•Public Finance as Science•Science is the systematic study of any subject which studies relationship between facts.
NaturePublic Finance as Art•Art is application of knowledge for achieving definite objectives.•Fiscal Policy which is an important instrument of public finance makes use of the knowledge of government’s revenue and expenditure to achieve the objectives of full employment, economic development and equality. Price stability etc