Subject(s): Finance, Public. -- Role of government in Economy : Nature of fiscal state, Constitution of economic policy, Public goods, Club goods, Externalities, Merit goods -- Theory of public choice : Public choice, Role of government in Economic development -- Financing government - Theory of taxation : Taxation and efficiency, Equity, Optimal taxation, Optimal tax system, Economic theory of tax compilation with special reference to compliance costs, Value added tax -- Macrolinkages of fiscal policy : Fiscal policy, Economic of government budget constraint, Sustainability of public debt, Budget deficit- sustainability, solvency and optimality, meaning the significance of the fiscal deficit -- Fiscal federalism in India, Centre-state fiscal relations in India -- Public finance and public choice