Functions And Objectives of Public Finance That You Need to Know



DTA public finance deals with the financial activities of the government. These activities include debt operations, revenue and expenditure and their economic effects. Public finance tries to analyze the impacts of the financial activities of the government on corporate bodies and individuals. It encompasses fiscal policy which refers to the government plan of action concerning revenue rising through taxation. The objectives of public finance include:
Price stabilization
This is a very important objective of public finance. It maintains stability in prices of services and goods hence preventing constant fluctuations, deflation and inflation that destabilizes the country’s economy.
Equitable wealth distribution
Another objective of public finance is to ensure that there is an equitable distribution of wealth and income among people and various sections of the country.
Need satisfaction
It is crucial that people’s needs are satisfied. People’s needs include food, shelter, clothes and more. A public finance consulting firm can work in conjunction with the government to ensure that there is the satisfaction of collective needs.
Resource allocation
Without proper resource allocations, countries cannot move forward and develop. Public finance ensures that resources are allocated among private and public sectors for a progressive country.
Provision of full-time employment
There are a lot of people seeking employment to fend themselves and live a comfortable life. One of the aims of public finance is to provide full employment opportunities to the citizens of a country.
Ensuring a favorable balance of payments
A country should have a favorable balance of payments by putting tariffs and fiscal policies in place. This is one of the main objectives of public finance.
Now that we know the objectives and functions of public finance, it is crucial to make uses of services of DTA public finance which is equally interested in ensuring that all the above objectives are met.



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