What is Public Finance? Definitions of Public Finance From Dalton, Musgrave and F E Taylor

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Various scholars have defined public finance as follows:

1. 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”
[Source: Dalton, H. (2003). Principles of Public Finance. London, UK: Rutledge.]

2. Richard Musgrave defined Public Finance as, “The complex of problems that centers on the revenue-expenditure process of Government is referred to traditionally as public finance.”
[Source: Richard Abel Musgrave The Theory of Public Finance (1959)]

3. While F E Taylor, held that public finance studies the manner in which the state through its organ, which is the government, raises and spends the resources required. Public Finance is thus concerned with the operation and policies of the fiscal public treasury .

[Source: Jashbhai Maganbhai Patel College of Commerce “Introduction To Public Finance” - http://www.jmpcollege.org/downloads/m... ]

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