**PUBLIC financial**
Also known as government financial
Government financial is a science which studies government revenue, expenditure and borrowing
For establishment of welfare state, the government should spend a huge amount of revenue on public welfare activities like electricity, drinking water, roads, irrigation, communication, education, health care, peace and security, general administration etc.
The government should raise taxes to meet expenditures
In this way a science which studies government revenue and expenditure is called the government financial or public financial
**IMPORTANCE OF PUBLIC financial**
Increase in Production
Capital Formation
Utilization of Natural Resources
Removing Economic Disparities
Increase in Employment
Economic stability
For Industrialization
Improvement in Balance of payments
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