Beginner · 3 lessons

Public Finance Management: Fundamentals

A plain-language track that builds your foundation in Public Finance Management (PFM): what it is, how a government budget actually works, where the money comes from, and where it goes. Written for finance professionals, consultants, and anyone preparing to work with government finances.

01What is Public Finance Management (PFM)?Public Finance Management (PFM) is how a government plans, raises, spends, and accounts for public money. It covers the full cycle — budgeting, revenue, expenditure, treasury, accounting, and audit — and it exists to make sure public money is used efficiently, transparently, and for its intended purpose.6 min read 02How a Government Budget Works in IndiaA government budget is an annual financial statement of expected receipts and planned expenditure. In India it splits into revenue and capital accounts, must be approved by the legislature before spending, and the gap between spending and non-borrowed receipts is the fiscal deficit.8 min read 03Government Receipts Explained: Where the Money Comes FromGovernment receipts are all the money a government takes in. They divide into revenue receipts (tax and non-tax income that doesn't create a liability) and capital receipts (borrowing, loan recoveries, and disinvestment that change assets or liabilities).7 min read

Get the next lessons by email

Occasional, practical notes on public finance. No spam, unsubscribe anytime.