Taxation and Public Finance

Taxation is the process by which governments collect money from individuals and businesses to fund public services and infrastructure, such as education, healthcare, and transportation. Public finance refers to the management of this revenue, including budgeting, spending, and economic policies. Effective taxation ensures that funds are available for essential services, while public finance aims to allocate resources efficiently to promote economic stability and growth. Together, they play a critical role in shaping a country’s economy and supporting societal needs.