Contents: 1. Introduction. 2. Role of government in economy. 3. Theory of public goods. 4. Theories of public interest. 5. Theories of public choice. 6. Public expenditure-growth and structure. 7. Impact of public expenditure. 8. Public expenditure evaluation. 9. Principles of taxation. 10. Tax productivity, tax shifting and tax policy issues. 11. Taxation of individual income. 12. Taxation of corporate income. 13. Taxation of income and wealth in India. 14. International taxation. 15. Taxation of commodities and services- principles and structures. 16. Taxation of commodities and services in India. 17. Value added taxation. 18. Value added (goods and services) taxation in India. 19. Transaction value tax: an alternative tax regime for India. 20. Non-tax revenues. 21. Role of fiscal policy. 22. Public debt. 23. Federal finance. 24. Fiscal federalism in India. 25. Government budgeting. 26. Monitoring fiscal performance in India. 27. Fiscal rules and FRBM in India. The textbook of Public Finance: Principles and Practices, basically intended for students of MA and research scholars, specializing in public finance, aims to make the students understand the institutional and practical aspects of the subject. It is designed to provide the necessary tools and conceptual framework to understand the fiscal situations around the world. The book is divided into 9 modules comprising 27 chapters, and includes most of the theoretical as well as practical aspects. The modules are The Basics, Public Expenditure, Public Revenue, Taxation of Income and Wealth, Public Revenue-Indirect Taxes, Public Revenue-Non-taxes, Role of Fiscal Policy and Public Debt, Federal Fiscal Issues, and Macro-fiscal Management. The book covers several contemporary public financial issues relating to taxation, public debt, FRBM, GST and international taxation. With its lucid language, interspersed with several real-life examples and figures, the book will be equally useful for students and policy makers and those conducting policy training programmes.