Souratya Rinoto Ghosh
28 Aug 2023
Research Paper #1
Abstract
According to the International Monetary Fund, the Indian economy is the "bright light" on the global scale. It is the third-largest by PPP and the seventh-largest economy in the world by GDP, therefore the outlook for short-term growth is also favorable. India also topped the World Bank's 2015-2016 economic growth prediction for the first time with an economic growth of 7.6% (anticipated growth is 8%). (2016-2017) "Fiscal policy is that portion of government strategy that deals with taxation as a means of raising revenue." It has an immediate impact on the public's access to financial resources and power. The employment of taxation and spending by the government to affect the economy is known as fiscal policy in economics. As the government modifies its tax and spending policies, it affects the overall level of economic activity. During the fluctuation, the fiscal policy will be used to stabilize the economy. Tax and spending policies. The main tenets of fiscal policy are techniques for making or not making investments, and for managing debt or surpluses. The significance of economic policy is enormous in developing nations. The burden of responsibility on the state to actively participate in responsible revenue and spending allocation is great. The burden of responsibility on the state to actively participate in responsible revenue and spending allocation is great. For the purpose of the research, secondary sources of literature have been consulted. In this essay, an effort was made to recommend policies that will help to develop the Indian economy by boosting tax revenues, lowering spending, and reducing government spending.
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About the Author
The author is a third year student at S.R.C.C, University of Delhi; Pursuing B.A. Economics(H)
Disclaimer:-
This piece expresses the opinions of the author alone and not S.C.A.R.
S.C.A.R neither endorses nor discredits any claims or opinions made in this write-up.