ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -There are four primary goals of economic policy: stable markets, economic prosperity, business development, and employment protection.

Detailed explanation-2: -A country’s government steers the economy through fiscal policy by controlling the flow of tax revenue and public spending. A government is in surplus if it receives more income than it spends and a deficit if it spends more than tax and non-tax income.

Detailed explanation-3: -India has various economic policies which are industrial policy, trade policy, monetary policy, fiscal policy, Indian agricultural policy, National agricultural policy, industrial policies, International trade policy in India, exchange rate management policy, EXIM policy.

Detailed explanation-4: -1. Regular electoral competition provides incentives to political parties and leaders. 2. Political parties know that if they raise issues that people want to be raised, their popularity and chances of victory will increase in the next elections.