Public Finance is a study of collection of revenue from the public by the government and spending it for the welfare of society. Although an important part of economics, public Finance, as a science is older than economics itself. Actually, it was the forerunner of science to which it is now Subordinate. The writings of cameralists dealt more fully with this part of the field of political economy than with any other. During the last two decades or so, every branch of economics has undergone considerable change under the impact of Keynesian new economics. Realising this, many foreign writers have attempted to recast public Finance theory by incorporating br>Keynesian analysis. Indian writers, however, have, by and large, modelled their treatment of the subject on the once famous but now largely out of date br>dalton’s public Finance. This book, in 2 volumes, brings to light the changes that have come about and comprehensively covers various aspects of public finance—theory, revenue, debt and Expenditure. Construction of chapters and enlisting of questions have been done after making a wide analysis of the syllabi prescribed for the subject in various Indian universities, following the pattern of questions asked in different examinations. The text has been supplemented with tables and figures which have been updated from authentic sources. Opinions of established economists and erudite scholars have been cited in each major topic relating to public Finance to substantiate the text. Every effort has been made to keep the style lucid and the approach analytical. The book caters to the academic needs of the postgraduate, graduate and undergraduate students of economics. It is equally useful for those pursuing MBA and M.Com. Courses. In addition, the aspiring candidates for various competitive examinations will find this book highly useful. It will prove an ideal reference book for teachers and researchers.