(i) Full employment
(ii) Price stability
(iii) Economic growth
(iv) Equitable distribution
(v) External stability
(vi) Capital formation
(vii) Regional balance

(i) Tax on Property.
(ii) Tax on Vehicles and Animals
(iii) Taxes on Trades and Employment
(iv) Theatre and show tax
(v) Taxes on advertisement
(vi) Octroi and terminal tax etc.
(vii) Taxes on goods brought into the cities for sale.

(i) Taxes on property.
(ii) Taxes on Vehicles and Animals
(iii) Taxes on goods particularly octroi and terminal tax.
(iv) Personal Taxes, Taxes on Profession, Trades and Employment.
(v) Theatre (or) show tax
(vi) Grands - in - aid from State Government.

(i) Grants - in- aid from the state government.
(ii) Land cesses
(iii) Toll, fees etc.
(iv) Income from the property and loans from the State Government.
(v) Income from fairs and exhibitions.
(vi) Property tax and other taxes
(vii) Grants for the centrally sponsored schemes relating to development work.

(i) Revenue and capital budget
(ii) Supplementary budget
(iii) Zero base budget
(iv) Performance budget
(v) Balance and Unbalanced budget
(vi) Unbalanced budget
(a) Deficit budget
(b) Surplus budget

(i) Individuals purchase government bonds and securities.
(ii) Banks, both private and public buy bonds from the government.
(iii) Non financial institutions like UTI, LIC, GIC etc. also buy the government bonds.
(iv) Central Bank can lend the government in the form of money supply.

(i) Sales tax was a multi point tax with cascading effect.
(ii) VAT was multi point tax without cascading effect.
(iii) GST is one point tax without cascading effect.

(i) When a loan is taken from abroad or from an international organisation it is called external public debt.
(ii) The main sources of external public debt are IMP, World Bank, IDA and ADB etc.
(iii) Loan from other countries and the governments.

(i) An internal public debt is a loan taken by the Government from the citizens or from different institution within the country.
(ii) An internal public debt only involves transfer of wealth.

The Government of India has been providing subsidies on a number of items such as food, fertilizers, interest on priority sector lending, exports, education, etc. Because of the massive amounts of subsidies, the public expenditure has increased manifold

Types of Indirect Taxes:
Excise Duty: Payable by the manufacturer who shifts the tax burden to retailers and wholesalers.
Sales Tax: Paid by a shopkeeper or retailer, who then shifts the tax burden to customers by charging sales tax on goods and services.
Custom Duty: Import duties levied on goods from outside the country, ultimately paid for by consumers and retailers.
Entertainment Tax: Liability is on the cinema theatre owners, who transfer the burden to cinema goers.

Principles of federal finance:
(1) Principle of Indiependence
(2) Principle of Equity
(3) Principle of Uniformity
(4) Principle of Adequacy
(5) Principle of Fiscal Access
(6) Principle of Accountability

(i) A tax is a compulsory payment made to the government. Refusal to pay the tax is punishable.
(ii) There is no quid pro quo between a taxpayer and public authorities.
(iii) Tax payer cannot claim any specific benefit against the payment of a tax.
(iv) Every tax involves some sacrifice on the part of the tax payer.
(v)  A tax is not levied as a fine or penalty for breaking law.