explain the difference between private finance and Public Finance
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Both kinds of finances have broadly the same objective. Private finance is concerned with the maximization of individual welfare while public finance is concerned with the maximization of a community's welfare from given resources.
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There is a fundamental difference in the objectives of private finance and public finance. An individual is always guided by the profit motive and tries to increase his income and wealth for personal benefits whereas the objective of public finance is social benefit.
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