-: Public Finance & Government Accounting - (100 MARKS)

Objective - To develop an understanding of the economic policies of the Government, Budgets, Fiscal tools, Government Grants,

Public Funds, Rules, Regulations and Accounting Systems about Government departments/Institutions of the Centre,

State and Local-Self Government.

Contents

1 Introduction to Government Functioning: Role and responsibilities of Central, State, Panchayati Raj Institution and Urban Local Bodies, Union-State-Local Government Fiscal Relations, Fiscal Federalism.

2 Constitutional Provisions and Related Authorities: 112. Annual financial statement. 113. Procedure in Parliament concerning estimates. 114. Appropriation Bills. 115. Supplementary, additional, or excess grants. 116. Votes on account, votes of credit and exceptional grants. 117. Special provisions as to financial Bills, 148. Comptroller and Auditor-General of India. 149. Duties and powers of the Comptroller and Auditor-General. 150. Form of accounts of the Union and of the States 280. Finance Commission. 281. Recommendations of the Finance Commission. State Finance Commission, CGA, Niti Aayog.

3 Public Finance: Meaning, Importance, Scope and Categories, Fiscal/Budgetary functions, Distinction between Private and Public Finance, Public Finance & Economic System, Fiscal & Monetary Policies.

4 Public Revenue: Sources of Tax and Non-tax Revenue for Centre, State and Local Government, Efficiency and Equity in Tax Policy Design, Tax Policy and Tax Administration in India, Tax collection by Government- Union, State & Local Governments.

5 Budget: Budget Cycle: Planning, Preparation, Execution, Monitoring, how to interpret data from Budget document, Fiscal Deficit, Primary Deficit, Revenue and Effective Revenue Deficit.

6 Public Debt/Bond: Meaning and Types of Public Debt, Burden of Public Debt, Principles of Public Debt Management, Debt Profile of the Union Government, Debt servicing, Role of multilateral agencies.

7 Public Expenditure: Canons of Public Expenditure; Classification of Public Expenditure; Wagner's Law of Public Expenditure; Public Expenditure as an Instrument of Fiscal Policy: PFM Structure Introduction and IT Intervention.

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8 Union & State Accounts: Constitutional Provisions, Structure of various ministries/departments of Government of India, Controller General of Accounts Hierarchy and Functions, Structure of Government Accounts and Flow of Funds, Classification of Government Accounts Consolidated Fund, Contingency Fund and Public Accounts, Classification of Government expenditure in India including introduction to Chart of Accounts, Banking Arrangements, Bankers to the Government.

9 Urban Local Bodies: Introduction - NMAM, National Municipal Asset Valuation Manual, State Municipal Accounts Manuals/Rules and ASLBS.

10 Standard Internal Control and Risk Management: Internal Control Systems in Government, Internal

Audit, Outcome Budgeting & Reporting, Procurement Control, Asset Controls, Cash Controls, etc., Туре of Audit - Role of CAG & PAC, Contingent liability, and Parliamentary Control, Brief Introduction of IGAS, IGFRS and IPSAS.