Question

The International Monetary Fund in its annual world Economic Outlook significantly downgrades India’s growth for the fiscal year 2020 to minus 10.3 per cent. At the same time IMF said that India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021. In terms of what can be done going forward, clearly on the fiscal side, the IMF believes there is more that can be done to provide support to households and firms that have been affected by the pandemic. 7 What do you understand by the term ‘Fiscal Policy’? 1 8 State one measure under fiscal policy that can be undertaken to support households. 1 9 State one measure under fiscal policy that can be undertaken to support firms. 1 10 “8.8% growth rate in 2021 also signify welfare as well”. Defend or Refute.

Answer 1

Answer:

X-axis=(5,0)   Y-axis =(0,5)

Comparing with (n,0)  and  (0,m)

n=5  and m=5

∴m+n=5+5=10