Subject(s): Public Finance: An Overview -- Allocation of Resources of Public Goods -- Principle of Maximum Social Advantage -- Public Revenue -- Principles and Theories of Taxation -- Classification of Taxation -- Public Expenditure -- Trends of Public Expenditure in India -- Taxable Capacity -- Public Debt in India -- Fiscal Policy -- Development of Federal Finance in India -- Deficit Financing -- Local Finance -- Taxes of Central and State Governments -- Indian Tax System -- Agriculture System in India -- Reforms in Expenditure Budgeting -- Public Budgeting -- Shadow Prices -- Project Evaluation and Cost-Benefit Analysis -- Union Budgets [2005-06 & 2006-07]