explain the importance of public finance
Answers
Answer:
Steady state economic growth:
Government finance is important to achieve sustainable high economic growth rate. The government uses the fiscal tools in order to bring increase in both aggregate demand and aggregate supply. The tools are taxes, public debt, and public expenditure and so on.
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Importance of Public Finance in Developing Countries
Helps in Removing Inequalities in Terms of Wealth and Income
Helps in Controlling Inflation & Deflation
Helps in Attaining Economic Stability
Helps in Developing Well Structure & Infrastructure
Helps in Increasing Export
Helps in Encouraging Savings & Investment
Helps in Allocating Resources Properly & Efficiently
Helps in Bringing Balanced Development in the Economy