Synopsis The present book though set in questions and answers form is no less than a dependable book covering the vast area of public finance. Theory, Revenue, Debt, Expenditure-all aspects of the subject have been dealt with. This book is meant for the students appearing in degree, honours, and post-graduate examinations in economics and commerce of all Indian Universities besides other competitive examinations. Construction of the chapters and enlisting of questions have been done after making wide analysis of the university questions and syllabi prescribed. In view of the new syllabi many chapters have been added; some of these are: Important theories of public finance-Federal Finance, Public Expenditure, Income and Sales Tax in India , Gift Tax, Fiscal Policy, Effects of Taxation, Budget, and the Union Budget.