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Fiscal Policy
What is fiscal policy?
Fiscal policy refers to the use of government revenue collection (taxes) and expenditure (spending) to influence the economy. It is a key tool used by governments to manage economic growth, inflation, and employment.
What is the primary objective of fiscal policy?
To manage government revenue and expenditure for economic stability.
Which authority is responsible for fiscal policy in India?
The Union Government of India, primarily through the Ministry of Finance, is responsible for formulating and implementing fiscal policy. The Budget presented by the Finance Minister is the main instrument of fiscal policy.
What is the difference between a budget surplus and a budget deficit?
Surplus means revenue exceeds expenditure; deficit means the opposite.
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