Financial policy and financial system of the state: the main aspects of the relationship

The financial system of the state is the commodity-money relations of economic entities in the financial sphere, which have their rights and responsibilities.

The financial system of Russia is a system consisting of nationwide and territorial finance, finance of economic entities and finance of ordinary citizens.

Each component of this system has specific tasks, and they are also responsible for the functioning of certain relations in the sphere of finance.

So, for example, the task of public finance is the accumulation of financial resources in the public order and direction if necessary or, according to the approved budget, to finance social programs and other public needs. The formation of this source of state revenues is carried out at the expense of tax collections, amounts received from privatization of subjects of state property and state duties. As part of the national finances are: the federal budget, government lending and insurance, as well as federal extra-budgetary funds. It should also be noted that up to 50% of GDP is redistributed through them in developed countries. It is also a kind of mechanism for stimulating business and economic activity of subjects.

The federal budget is represented by a system of comparing revenues and expenditures at the state level, which must be approved by law. The structure of income and expenditure is determined by the directions of socio-economic state policy.

The financial system of the state is subject to all changes in its functioning, whether it be political confusion or different socio-economic situations.

The financial system of the state can not function normally without territorial finances, which are called upon to perform tasks similar to general state finances, but with only one difference - in the territory of individual administrative units that are on self-government. They consist of extra-budgetary funds and territorial budgets. Their formation is carried out at the expense of local taxes and fees, local loans, fines, lotteries and other sources.

As indicated above, the financial system of the state includes such a component as the finances of business entities. The formation of this source occurs both at the expense of profit and depreciation of the business sector.

The financial system and the financial policy of the state are closely interrelated. Let's try to figure out how their relationship is going.

So, the financial policy of the state is a set of implemented measures that are aimed at achieving those goals that are defined by the state bodies of the financial sphere. It is within the framework of this policy that the main sources of the formation and direction of financial resources in the social sphere are concretized.

One of the measures of the financial policy is the creation of an effective financial mechanism, with the use of which state activities in the sphere of finance are carried out. Here we can see that the financial system of the state serves as an instrument or element of a financial mechanism. After all, the basis of this system is financial resources, for the formation of which is responsible for financial policy. Also, its main components are methods of forming finance (revenue structure), a system of legislation responsible for the effectiveness of the formation of budget revenues and expenditures.

And, of course, the article would be incomplete, if not prioritize the financial policy of the state. First, this policy should strive for the formation of legislation adapted to real conditions. Secondly, with the help of effective financial policy, the state should find a "golden mean" in taxation - the optimal tax burden for the effective functioning of the tax system. Third, to improve the effectiveness of public policy, it is necessary to plan and forecast the direction of using the financial system.