It is therefore the urgent need of the hour is that the state should come forward and take measures to formulate and implement a judicious industrial policy. § 15: The Legislature shall make such provision by general taxation and by authorizing the school corporations to levy such additional taxes as with the income from the permanent school fund shall secure a thorough and efficient system of common schools throughout the state. Improvement in health will decline in death rate which in turn increases the population and it has adverse effect on economic growth. The development of UDC is unbalanced and lop sided. There should be incentives to encourage parents to have fewer children. Prof. Galbraith regards that investment in educating each and every man is directly productive. They should not be allowed to be utilized in a wasteful manner. Un- ... whether the state directly controls the allocation of resources of the enterprise. Inspite of this it has certain limitations: 1. 4) Public finance provides many a programme for moderating the incomes of the rich and the poor. • The word public authorities include all sorts of governments. very state constitution contains a clause that requires the state—namely the legislature—to provide a system of free public education. It is about the revenue, expenditure and debt operations of the government and the impact of these measures to the society. Public finance is the study of the role of the government in the economy. The higher education system shall include all public universities and colleges and such other institutions and programs as the Legislature may designate. The role of public finance in development Most developing countries have faced a fiscal crisis of one sort or another during the past decade. (A) Direct and (B) Indirect. 2. § 2: The legislature shall maintain and support a system of free public elementary and secondary schools as defined by law. It is not yet a comprehensive collection of education finance legislation. But no appropriation shall be made from said fund to any district for the year in which a school has not been maintained for at least three (3) months…. To secure the balanced economic growth greater employment opportunities must be taken. The ultimate aim of economic development is to create conditions of full employment of labour and other resources. Welcome to EconomicsDiscussion.net! § 1: A high degree of intelligence, patriotism, integrity and morality on the part of every voter in a government by the people being necessary in order to insure the continuance of that government and the prosperity and happiness of the people, the legislative assembly shall make provision for the establishment and maintenance of a system of public schools which shall be open to all children of the state of North Dakota and free from sectarian control. Hence, it is essential for the government to evolve a suitable price policy and keep the prices of essential commodities under control. All religious societies, or bodies of people that may be united or incorporated for the advancement of religion and learning, or for other pious and charitable purposes, shall be encouraged and protected in the enjoyment of the privileges, immunities, and estates, which they in justice ought to enjoy, under such regulations as the general assembly of this state shall direct. There should be free and compulsory provision of primary education and the schools of secondary education should be opened. Both systems shall be free from sectarian control. The state can develop the means of transport and communications for expanding the size of market because private enterprise cannot be capable of undertaking such schemes. It must also provide the education and training facilities and health services to accelerate the pace of economic development. Peace and security are the two things which are essential for economic growth. 2. The policy declaration in all UDC stresses the need for greater equality and in particular in raising the standard of living. They need capital for investment but UDC have the scarcity of funds and funds can be raised through deficit finance also. Therefore government watches that the economic resources are used for socially described beneficial projects. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. Some states have updated or adopted new language since Thro originally published his categorizations in 1993. § 3(b): In event the public school fund provided and set apart by law for the support of free public schools, shall be insufficient to sustain free schools at least eight months in every year in each school district of the state, the general assembly may provide for such deficiency; but in no case shall there be set apart less than twenty-five percent of the state revenue, exclusive of interest and sinking fund, to be applied annually to the support of the free public schools. 333, 624 So.2d 107 (1993)), the trial court ruled that the racially discriminatory motivations underlying Amendment 111 made the amendment of Section 256 unconstitutional; and the requirement of original Section 256 that the Legislature “establish, organize and maintain a liberal system of public schools for the benefit of the children of the state” survived as a constitutional mandate on the state. § 5: … (3) There is established a Uniform School Fund which consists of: (a) money from the permanent State School Fund; (b) revenues appropriated by the Legislature; and (c) other revenues received by the Uniform School Fund under any other provision of law or by donation. (d) The Legislature may provide for the formation of school districts by general laws, and all such school districts may embrace parts of two or more counties. The development and maintenance of public health services are important functions to be performed by the government. To include, Lewis quotes, One needs to put all the ingredients into this pie, to convert social leaders into seeing the dangers of a high birth rate, so that the taboos and religious sanctions turn against it, instead of favouring it; to raise standards to living and education rapidly, so that women find it convenient to have fewer children and to make widespread propaganda about birth control techniques. The institutional changes can be brought about by the state in the form of land reforms, improvement in the laws of inheritance, regulation and control of monopolies, regulation for the control of money market, improvement in the distribution system etc. This is due to the fact that these countries remained under the colonial rule for a long period and their natural resources were mercilessly exploited for their selfish ends. ... the state’s role in the economy has been noticeably gaining in importance; therefore the traditional functions of the state (legislative, social, security, etc.) § 6(b): The legislature shall make suitable provision for finance of the educational interests of the state. Sooner or later these countries stand on their own legs. The problem of population explosion can be avoided in under-developed countries if the family planning programme is adopted on governmental scale. § 1: The Legislature shall provide for the establishment and maintenance of the state’s education systems including: (a) a public education system, which shall be open to all children of the state; and (b) a higher education system. PUBLIC FINANCE 1. The state can go a long way in the growth of private industries by importing capital equipment machinery and technical knowhow and even raw materials. It fixes working hours, payment of wages, establishes machinery for the settlement of labour disputes, provides for social securities measures etc. Another important field of economic activity of government in LDC is regulation and control of prices. The legislature shall establish, organize, and maintain a liberal system of public schools throughout the state for the benefit of the children thereof between the ages of seven and twenty-one years. The General Assembly shall provide for the maintenance and support of a thorough and efficient system of public education to serve the needs of the Commonwealth. It controls over production, distribution, consumption of commodities and to perform this the government has to devise physical controls and monetary and fiscal measures and these measures are essential for reducing economic and social inequalities that are prevailing in under-developed countries. But in under-developed countries the private enterprises are not interested to invest because the return is not fruitful and, moreover, such huge investments are beyond the capacity of private sector. It also determines the distribution of goods and services in the economy. And, this online spreadsheet contains detailed information on the 170-plus cases addressing federal and state constitutional challenges to statewide education finance systems. Now a day’s state is considered as an important agency promoting the balanced growth of the economy. Thus, self-reliance is must for these countries. Finance. The General Assembly may assign to units of local government such responsibility for the financial support of the free public schools as it may deem appropriate. Baker, B. D., Green, III, P. C., & Ramsey, M. J. Unit-II Sources of revenue: taxes, loans, grants and aid – meaning and types, canons of taxation, problem of justice in taxes, incidence of taxation, taxable capacity. It revolves around the role of government income and expenditure in the economy. A general diffusion of the advantages of education being essential to the preservation of the rights and liberties of the people; to promote this important object, the Legislature are authorized, and it shall be their duty to require, the several towns to make suitable provision, at their own expense, for the support and maintenance of public schools; and it shall further be their duty to encourage and suitably endow, from time to time, as the circumstances of the people may authorize, all academies, colleges and seminaries of learning within the State; provided, that no donation, grant or endowment shall at any time be made by the Legislature to any literary institution now established, or which may hereafter be established, unless, at the time of making such endowment, the Legislature of the State shall have the right to grant any further powers to alter, limit or restrain any of the powers vested in any such literary institution, as shall be judged necessary to promote the best interests thereof. 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