Fiscal policy comprises a mix of budgetary instruments that government use to target economic objectives of the country. It is the use of government spending and taxation to influence the economy. The objectives of the fiscal policy are: the achievement of economic growth, distributive justice, price stability and full employment. Fiscal policy is the policy of government related to its own expenditure and taxes in order to influence the aggregate demand (AD). The government employs either expansionary or contractionary fiscal policy. Expansionary fiscal policy via increase in government expenditure or reduction in taxes would increase the aggregate demand whereas contractionary fiscal policy via reduction in government expenditure and raise of taxes would reduce the aggregate demand. Changes in the level, timing and composition of government spending and taxation have an important effect on the economy. The fundamental objective of fiscal polic...
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UPSC GS paper 1 syllabus History & Culture Salient Aspects of Art Forms, Literature and Architecture from Ancient to Modern times. Modern Indian History from middle of the eighteenth century until the present – significant events, personalities, ideologies and issues The Freedom struggle - its various stages and important contributors/contributions from different part of the country. Post-independence consolidation and reorganization within the country. World History Events from 18th century such as industrial revolution, world wars, redrawing of national boundaries, colonization, decolonization, Political philosophies like - communism, capitalism, socialism their forms and impact on Society. Society Salient Features of Indian Society, Diversity of India Includes - Role of women and women organizations. Population and associated issues. Poverty and developmental issues. Urbanization - Their...
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