TOPIC INFO (UGC NET)
TOPIC INFO – UGC NET (Economics)
SUB-TOPIC INFO – Public Economics (UNIT 6)
CONTENT TYPE – Detailed Notes
What’s Inside the Chapter? (After Subscription)
1. Introduction
2. Concept of Fiscal Policy
2.1. Objectives of Fiscal Policy
2.2. Implications of Fiscal Policy
3. Fiscal Policy in India
3.1. Fiscal Policy Reforms since the 1990s: Tax Structure and Policy
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Fiscal Policy and its Implications
UGC NET ECONOMICS
Public Economics (UNIT 6)
Introduction
These days there is hardly any economy in the world which is not regulated by government budget decisions and public policy. The Government imposes taxes and spends on various public works and programmes. The Government also borrows and invests in various economic activities. There are many public sector undertakings producing various types of goods and services. All these activities of the government influence private production, employment, consumption, saving and investment.
There are many people who believe that the Central and State Governments in India are overdoing their economic activities. They impose too much taxation. Public undertakings are run inefficiently. The Government is also borrowing too much.
On the other hand, there are many who believe that the Government is not doing enough to promote growth and social justice. There is a lot more the Government could and ought to do, for instance, remove poverty and develop backward regions.