Explain the role of public finance in developing economy
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Public Finance deals with the taxing and spending activities of various governmental units. The overall impact of public sector decisions must be examined in the context of their impact on private sector behavior. ... “Public finance is the study of the role of the government in the economy.
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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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