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Sources of local finance, Public finance Video Lecture | Public Finance - B Com
FAQs on Sources of local finance, Public finance Video Lecture - Public Finance - B Com
| 1. What are the sources of local finance? |  |
Ans. The sources of local finance can include property taxes, sales taxes, income taxes, grants from higher levels of government, fees and charges for services, and borrowing from financial institutions.
| 2. How are property taxes used as a source of local finance? | |
Ans. Property taxes are a common source of local finance. They are collected by local governments based on the assessed value of properties within their jurisdiction. The revenue generated from property taxes is used to fund various local services and infrastructure projects.
| 3. What is public finance? | |
Ans. Public finance refers to the study of how governments at all levels (local, state, and national) raise and spend money to meet their financial obligations. It involves the management of public funds, budgeting, taxation, and the allocation of resources for public goods and services.
| 4. How do local governments finance their operations? | |
Ans. Local governments finance their operations through a combination of revenue sources. These can include taxes (such as property, sales, and income taxes), fees and charges for services (such as parking fees or building permits), grants from higher levels of government, and borrowing through bonds or loans.
| 5. What role do grants play in local finance? | |
Ans. Grants from higher levels of government play a significant role in local finance. They provide financial assistance to local governments for specific projects or programs. These grants can be used to fund infrastructure development, education initiatives, healthcare services, and other essential public services. Grants help alleviate the burden on local taxpayers and promote regional development.
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