What is meant by fiscal policy?
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Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy. It is the sister strategy to monetary policy through which a central bank influences a nation's money supply.
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Fiscal policy is referred to as the way in which a government uses various tools to organise its expenditure and taxes received so as to have an impact on the country's economy.
The two different tools used by the government to regulate the fiscal policy are Public expenditure and Public revenue.
Public expenditure includes revenue expenditure and capital expenditure whereas Public revenue includes Revenue receipt( includes all the taxes) and Capital receipt.
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