Public financial management is the administration of funds used to deliver public services. Public finance is the way of managing the public funds in the economy of the country which plays the most important role in the development and growth of the nation both domestically as well as internationally and it also affects every stakeholder of the country whether that stakeholder is a citizen or not.
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Depending on the level of government and the specific nation these can range from water and sewage service in a city to a national health plan.
Public finance definition. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold consisting of governmental effects on. The efficient allocation of available resources.
The money that a government has available to spend from taxes and borrowing. The distribution of income among citizens. Public finance is the study of the role of the government in the economy.
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