Author Description

The Scope Of Public Finance, As A Branch Of Economics, Has Expanded With The Changing Role Of Government. Though The Foundational Principles Of Public Finance Defined By Musgrave (1957) Remain The Core, The Instruments And Options To Achieve Desired Musgraivian Objectives, Viz., Allocation, Distribution And Stabilisation, Have Increased Phenomenally Overtime. In Current Day Public Finance, The Subject Matter Of Public Finance Not Only Includes Public Revenue/taxation, Public Expenditure, Deficit/public Debt Financing And Fiscal Federalism, But Also Issues Related To Climate Finance And Climate Change, Environmental Federalism, Discussion On Global Public Goods Having Transjuridictional Implications, Legislative Control Over Borrowing, Emergenece Of Independent Fiscal Institutions Like Fiscal Councils Have Emerged As Major Areas Of Research And Policy