Public Finance
By editor | August 8, 2007
The finance program for the nation purpose or for a state purpose or for municipality purpose is called as public finance. As the name suggests it is the finance program for done for public property. The finance done for purposes such as making roads, making a police station, making public parks, or for improving a public property can be known as public finance.There are various processes that are involved before a public finance is done.
- Project Sub mission- In this first of all a project is planned out on paper and is submitted to the department of public finance for the approval. The further process may continue if the project is accepted.
- Budgeting- The rough figure of the finance to be done is been calculated before actually going through the next process. Then It is checked weather the government has fund to invest for such purpose or not.
- Raw material- Once the estimate is been made the availability of the raw material becomes next concern. The raw material may be purchased from either private or government sectors.
- Tender- After the raw material is purchased for the specific task, tender is been passed to get the work carried out further. Different private companies involve in this for obtaining the tender. The tender which provides lowest finance and maximum out put is selected and then the further work is carried out.
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Topics: Finance Valley |