GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In India, which one among the following formulates the fiscal policy?
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Planning Commission
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Ministry of Finance
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Finance Commission
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The Reserve Bank of India
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Explanation:
Detailed explanation-1: -In India, Ministry of Finance formulates the fiscal policy. Hence, the correct option is (B)
Detailed explanation-2: -The correct answer is the Ministry of Finance. In India, fiscal policy is formulated by the Ministry of Finance through its budget proposals.
Detailed explanation-3: -The Reserve Bank’s Monetary Policy Department (MPD) assists the MPC in formulating the monetary policy.
Detailed explanation-4: -Fiscal Policy of India These include subsidy, taxation, welfare expenditure, etc. Also, there are a certain investment and disinvestment policies and debt and surplus management that contributes to fiscal policies.
There is 1 question to complete.