The evolution, features, concepts, application and terminologies of fiscal policy
Summary :
Table of Contents
- Introduction
- Definitions of fiscal policy
- Objectives of fiscal policies
- Types of fiscal policy
- Basics of fiscal concepts
- Appendices
- Conclusion
- Bibliography
Abstract
fiscal policy can be explained as a policy executed by the government to produce desirable effect on national income, output and employment. There are two type of fiscal policy they are - Contractionary & Expansionary.It helps the government by creating an environment for rapid economic growth. It helps in stabilizing the prices. It minimizes the inequalities of income & wealth.The word fiscal is derived from Greek word FISC meaning basket. The word FISC was used to devote the income and expenditure operations of the Government. Thus, fiscal policy can be explained as a policy executed by the Government to produce desirable effects on national income, output and employment. Thus, broadly speaking, PUBLIC EXPENDITURE+PUBLIC REVENUE constitute the tools of fiscal policy which are at the disposal of the Government to pursue its micro and macro economic goals, through taxation and expenditure policies.
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