: Following Adam Smith’s principles, Lekhi discusses the necessity of equity, certainty, convenience, and economy in tax systems.
: R.K. Lekhi emphasizes that the state should collect and spend funds in a way that maximizes the net benefit to society. This occurs when the marginal social sacrifice of taxation equals the marginal social benefit of public spending. Public Revenue and Taxation public finance by rk lekhi pdf
Here, Lekhi discusses the principles of government spending (Canons of Expenditure by Findlay Shirras). Key topics include: : Following Adam Smith’s principles, Lekhi discusses the
: It follows a systematic approach, typically divided into theoretical basics (Part I) and the practical Indian fiscal field, including the Indian Budget and GST (Part II). This occurs when the marginal social sacrifice of
: When revenue falls short of expenditure, governments borrow. Lekhi analyzes the burden of internal versus external debt.
For students of economics, commerce, and those preparing for competitive examinations like the UPSC, UGC NET, or state civil services, the term "Public Finance" often brings to mind complex theories, budgetary matrices, and fiscal policies. Among the myriad of books available in the Indian academic market, one name has stood the test of time as a staple for undergraduate and postgraduate students: