Question

Discuss main features of fiscal
policy of India.
​

Answer 1

Answer:

Disparity of incomes has been a striking feature of India's economy. The GOI has given priority to reduction in inequalities of income and wealth in its objectives of planning. Progressive taxation based on the fiscal principle of 'ability to pay', has been an important tool of fiscal policy.

Explanation:

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Answer 2

Answer:

Fiscal policy deals with the taxation and expenditure decisions of the government. Some of the major instruments of fiscal policy are as follows: Budget, Taxation, Public Expenditure, public revenue, Public Debt, and Fiscal Deficit in the economy.

Explanation:

or

Disparity of incomes has been a striking feature of India's economy. The GOI has given priority to reduction in inequalities of income and wealth in its objectives of planning. Progressive taxation based on the fiscal principle of 'ability to pay', has been an important tool of fiscal policy.