Understanding fiscal policy from "summary" of Oswaal NCERT One For All for UPSC & State PSC's Indian Economy Classes-9 to 12 (Old & New NCERT Edition) (For 2023 Exam) by Oswaal Editorial Board
Fiscal policy refers to the government's use of taxation and spending to influence the economy. It is a crucial tool that governments use to achieve various economic objectives. By understanding fiscal policy, one can comprehend how governments make decisions that impact the overall economic health of a country.
Governments use fiscal policy to achieve macroeconomic objectives such as economic growth, price stability, and full employment. For example, during a period of economic slowdown, the government may increase government spending or cut taxes to stimulate economic activity. On the other hand, during a period of high inflation, the government may reduce spending or increase taxes to cool down the economy.
Fiscal policy can be expans...
Read More
Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.
