It states public finance should maximize social welfare by balancing marginal social benefits of expenditure with marginal social costs of taxation.
Public goods are non-rival and non-excludable; market fails to supply them, requiring government provision.
Shifting is transfer of tax burden; incidence is final resting point of that burden on an individual.
ZBB requires each programme to justify its entire budget from zero, not just incremental changes.
It compares total social costs and benefits to determine economic viability of public investments.
It promotes growth, stabilises economy, mobilises savings, and allocates resources for infrastructure.
It increases money supply to fund deficits but may cause inflation if unaccompanied by output growth.
They define tax-sharing, grants-in-aid, and borrowing powers between union and state governments.
It refers to the transfer of resources from future taxpayers to bondholders, plus possible crowding out.
It enables states to raise own revenue and spend according to local priorities without central dependency.
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It states public finance should maximize social welfare by balancing marginal social benefits of expenditure with marginal social costs of taxation.
Public goods are non-rival and non-excludable; market fails to supply them, requiring government provision.
Shifting is transfer of tax burden; incidence is final resting point of that burden on an individual.
ZBB requires each programme to justify its entire budget from zero, not just incremental changes.
It compares total social costs and benefits to determine economic viability of public investments.
It promotes growth, stabilises economy, mobilises savings, and allocates resources for infrastructure.
It increases money supply to fund deficits but may cause inflation if unaccompanied by output growth.
They define tax-sharing, grants-in-aid, and borrowing powers between union and state governments.
It refers to the transfer of resources from future taxpayers to bondholders, plus possible crowding out.
It enables states to raise own revenue and spend according to local priorities without central dependency.