GK
INDIAN POLITICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who formulates fiscal policy in India?
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Ministry of Finance
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Reserve Bank of India
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Securities and Exchange Board of India (SEBI)
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Finance Commission
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Explanation:
Detailed explanation-1: -In India, fiscal policy is formulated by the Ministry of Finance through its budget proposals. RBI formulates monetary policy. Finance Commission gives recommendation about allocation of financial resources between centre and states.
Detailed explanation-2: -The monetary policy is governed by the Central Bank of the country. On the other hand, fiscal policy is directed by the Finance Ministry.
Detailed explanation-3: -Fiscal policy in India: Fiscal policy in India is the guiding force that helps the government decide how much money it should spend to support the economic activity, and how much revenue it must earn from the system, to keep the wheels of the economy running smoothly.
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