Consider the following statements regarding savings in different sectors of an economy1. savings of private corporate sector constitute undisturbed profits2. savings of private corporate sector consitute excess of income over expenditure3. savings of government sector constitute excess of revenue receipts over revenue expenditure4. savings of government sector constitute excess of total revenue over total expenditure Of the above statements

Public finance is the study of the role of the government in the economy. 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.