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Knowledge

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What is the difference between public and private finance?
Government expenditures are the expenditures incurred by the Government for development of the country and also on non-development objectives in view. Government revenue comes from taxation i.e. direct taxation and indirect taxation. Government ‘debt is obtained from internal and external sources. Loans from internal sources are obtained by selling Government securities to the people whereas external sources are those such as the World Bank, IMF etc.
Public finance is for the benefit of the people in general unlike private financing which is confined to a particular purpose i.e. family matter only. We shall now take up the difference between the two.
The basic difference between public and private financing is that an individual adjusts his expenditure in accordance with the given income. On the other hand, the Government relatively speaking adjusts its income in accordance with its expenditure. Thus, the individual is only able to spend so much but the government may spend as much as it likes and then care of the income. Relatively speaking the Government prepares its expenditure first or rather it estimates expenditure, and only then devises ways and means to obtain the amount required. However, sometimes the individual also does the same thing as the Government and vice versa. i.e. when the Government realizes a surplus budget it would increase expenditure in specific areas and when the public revenue is declining the Government brings about a corresponding reduction in its expenditure through a policy of retrenchment.
In the case of public finance the, Government declares its expenditure for a certain period usually one year and meets the required limit within the stipulated time. However, the individual is not bound to such a requirement. He may plan his expenditure for a day, week or even for a month. Short private finance is flexible and, depends entirely upon the individual.
Methods for obtaining financial resources differ between the two parties particularly when both parties are facing a tight situation. When such a situation arises the Government may obtain resources internally and externally i.e. from foreign bodies e.g. World Bank, IMF etc and internally by selling Government securities to the people. However, the individual will not be as fortunate, rather the only visual possibility of him obtaining resources in such a period is from state welfare department and this also is only possible in developed countries, otherwise they would have to turn to the streets!
Public finance to a great extent depends upon the type of Government. A Socialist Government would presumably increase expenditure for welfare purposes to a great extent, but a Capitalist Government is less spendthrift and tends to reduce expenditure in various sectors. An individual has no choice, whether he is a socialist or capitalist, he can still only spend within his limit.
Generally speaking, a Government as the representative of the people in general will do its utmost best to ensure that the future to come will be a prosperous one for those to live. In government planning such as the five year plan for Commercial or agricultural products or even planning for future industrial changes in the society, the return is not the concern of the Government as it may take some time until profits are realized. On the other hand individuals are more optimistic and would only invest when immediate returns are likely.
A government surplus budget reflects a bad image on itself to the people in general. It creates the impression that the Government is purposely increasing taxes and thus if there were to be such a surplus budget the Government devises ways to increase expenditure in certain areas. However, a surplus budget for the individual is better in the sense that surplus money can be used for purpose e.g. holidays etc.
As a result of deficit financing, the Government can print more money. Usually the Government prints more money when it feels that the nation has been over burdened with tax and that they (the nation) are starting to be pessimistic about the government of the day. An individual can not do so as it is a crime and would result in him going serving a sentence.
The annual budget or rather public finance is made known, to all. It is declared by the Minister of Finance through the media. Such a mean strengthens rather than weakens the public credit. On the other hand, individuals are generally more secretive about their budget. The situation is generally that they either want to create an impression that they are not so fortunate or may be even otherwise, but the answer lies between God and himself?
The Government usually keeps records of its budgets i.e. of previous years. This would provide the incoming Government to ensure that the money spent is put to good use and that these records will serve as a guidance to prevent misgivings. However, the individual is less likely to do so and would spend at his own with regardless to what has happened or what may even happen.
As mentioned earlier, the Government may obtain external loans from the World Bank, IMF etc. The individual on the other hand is not as fortunate as such. Generally, developed countries lend a helping hand through grants and foreign aid e.g. for countries like Bangladesh, etc
Abhi mujh mein kahin
Baaqi thodi si hai zindagi
Jagi dhadkan nayi
Jaana zinda hoon main toh abhi
Kuch aisi lagan iss lamhe mein hai
Ye lamha kahaan tha mera
Ab hai saamne
Issey chhoo loon zaraa
Mar jaaoon ya jee loon zaraa
Khushiyaan choom loon
Yaa ro loo'n :'( zaraa
Mar jaaoon ya jee loon zaraa

Now there is very little life left in me, a new heart bit has arrived in me….which tells me that still I m alive……there is such attachement in this moment which seems whr was dis moment till now……….
Now the moment is here…sud I touch it a bit
Sud I die or live for a bit……. Sud I except the happiness or cry ………….
Ho o.. abhi mujh mein kahin
Baaqi thodi si hai zindagi

Ho.. dhoop mein jalte huey tann ko, chhaya perh ki mill gayee
Roothe bachche ki hansi jaise, phuslaane se phir khill gayee
Kuchh aisa hi abb mehsoos dil ko ho rahaa hai
Barso'n ke puraane zakhm pe marham laga saa hai
Kuch ehsaar hai, iss lamhe mein hai
Ye lamha kahaan tha mera
Ab hai saamne
Issey chhoo loon zara
Mar jaaoon ya jee loon zara
Khushiyaan choom loon
Yaa ro loo'n zaraa
Mar jaaoo'n yaa jee loon zaraa

[pic]

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