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bdkbZ—1% yksd foÙk dk vFkZ ,oa {ks=k

ftudk yksxksa osQ lkekU; dY;k.k ij izfrowQy izHkko u iM+s] vFkkZr ,slh oLrqvksa ij dj yxk;k tk, ftudk uksV
miHkksx /uh djrs gSa] fu/Zu ughaA

1-6 ljdkjh ;k jk"Vªh; Í.k (National Debt)

izkphu vFkZ'kkfL=k;ksa dh ekU;rk osQ vuqlkj] ljdkjh Í.k dks iQyghu Í.k (dead weight debt) gh ekuk
tkuk pkfg,&bu ekuks esa ugha fd Í.k cU/d j[kk x;k] cfYd bu ekuksa esa fd ljdkj dks Í.k nsdj O;FkZ osQ
vFkkZr~ iQyghu volj iznku fd;s x;sA fdUrq vk/qfud vFkZ'kkL=kh ljdkjh m/kj dks yksd foÙk dh ,d
egÙoiw.kZ dk;Zokgh ekurs gSaA orZeku le; eas vusd egÙoiw.kZ ifjfLFkfr;ksa dk lkeuk djus osQ fy, ljdkjh
Í.kksa dks vko';d ekuk tkrk gS tSls fd ctV osQ ?kkVs dks iwjk djus osQ fy, rFkk [kk|kUu osQ vHkko o vdky
vkfn dh fLFkfr;ksa ls fuiVus osQ fy,A ljdkjh m/kj dks bl dkj.k Hkh vR;Ur egÙoiw.kZ ekuk tkrk gS fd
orZeku le; esa tudY;k.k osQ y{; dks iwjk djuk bruk egaxk lkSnk gks x;k gS fd djk/ku osQ }kjk izkIr dh
xbZ lkekU; vk; mlosQ fy, de iM+ tkrh gSA dhUl osQ leku] vU; Hkh vusd vFkZ'kkfL=k;ksa dk fopkj gS fd
c<+k gqvk ,slk ljdkjh [kpZ] ftldh foÙkh; O;oLFkk djk/ku }kjk ugha cfYd m/kj (borrowings) }kjk dh
xbZ gks vk£Fkd eUnh nwj djus dk egÙoiw.kZ mik; gSA vYi fodflr ns'kkas osQ izkÑfrd lk/uksa (natural

resources) osQ fodkl osQ fy, Hkh ljdkjh m/kj dks cM+k mi;ksxh ekuk tkrk gSA
1-6-1 dk;Z'khy foÙk (Activating Finance)

izks- cythr ¯lg us dk;Z'khy foÙk dk fopkj izfrikfnr fd;kA muosQ vuqlkj] dk;Z'khy foÙk esa ge foÙkh;
lk/uksa ,oa midj.kksa dk mudh dk;Z lajpuk ij ijh{k.k djrs gSa vkSj ge ckr djrs gSa fd midj.kksa dh
vFkZO;oLFkk osQ fy, D;k mi;ksfxrk gSA dk;Z'khy foÙk izcU/ bl ckr dh tkudkjh nsrk gS fd foÙk izcU/ dh
fofHkUu fof/;k¡ fdl izdkj ls vFkZO;oLFkk esa LiwQ£r mRiUu djrh gSaA dk;Z'khy foÙk izcU/ bl ekU;rk dks ysdj
pyrk gS fd O;; viw.kZ jgrk gS vkSj blh osQ dkj.k ek¡x o mRiknu esa vlkE; cuk jgrk gSA
dk;Z'khy foÙk izcU/ esasa ,sls mik; fd;s tkrs gSa ftlls fofu;ksx dk izokg lnSo cuk jgsA ;fn ,slk gqvk rks
jk"Vªh; vk; o jkstxkj Lrj esa o`f¼ gksxhA dhUl vkSj yuZj osQ fopkj osQoy fodflr ns'kksa osQ fy, mi;qDr gSa
tgk¡ fd O;; dk vf/d egÙo gSA v¼Zfodflr rFkk fodkl'khy ns'kksa dks cpr vkSj fofu;ksx ij vfèkd è;ku
nsuk pkfg,A vr% fodkl'khy ns'kksa esa jktdks"kh; uhfr;ksa dk fu;eu ,oa lapkyu bl izdkj gksuk pkfg, fd lHkh
lkèkuksa dks jkstxkj esa yxkdj mRiknu ,oa vk; o`f¼ osQ iz;kl gksus pkfg,¡A lk/uksa osQ Js"Bre iz;ksx dk iz;kl
djuk pkfg,A fodkl'khy ns'kksa esa nksuksa O;oLFkkvksa dk egÙoiw.kZ LFkku gSA fodkl osQ izkjfEHkd pj.kksa esa
izks- ¯lg dh ekU;rk ,oa vfUre pj.kksa esa izks- (Lerner) osQ fl¼kUrksa dks ykxw djosQ visf{kr ykHk izkIr fd;s
tk ldrs gSaA
3- jktLo esa uohu izo`fÙk;k¡ (New Trends in Public Finance)µvk/qfud dky esa jktLo osQ Lo:i
vkSj izÑfr esa Hkkjh ifjorZu gqvk gS ftlosQ ifj.kkeLo:i bldh ifjHkk"kk oqQN fHkUu izdkj ls dh xbZ gSA bl
lEcU/ esa oqQN izeq[k ifjHkk"kk,¡ vxzfyf[kr gSaµ

(1) fjpMZ elxzso (Richard Musgrave) osQ vuqlkj] ¶jktLo lkoZtfud vFkZO;oLFkk osQ fl¼karksa dk
vè;;u gS ;k vkSj Li"V :i esa] vk£Fkd uhfr osQ mu igyqvksa dk vè;;u gS tks lkoZtfud ctV dh fØ;kvksa
osQ iQyLo:i mRiUu gksrs gSa¸A 1

1. “...an investigation into the principles of public economy, move precisely into those aspects of
economic policy that arise in the operations of the public budget.”
—Theory of Public Finance, 1959, page 3.

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