SSC
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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Finance Commission
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Ministry of Finance
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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.
Detailed explanation-2: -The correct answer is the Ministry of Finance. Fiscal policy is formulated by the Ministry of Finance.
Detailed explanation-3: -Fiscal policy is based on the theories of the British economist John Maynard Keynes, whose Keynesian economics theorised that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity.
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