Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Fiscal Policy Definition
The government's taxation and public expenditure policies are collectively known as:
- Monetary policy
- Fiscal policy — Correct Answer
- Trade policy
- Industrial policy
Explanation:
Correct Answer Explanation
Taxation and public expenditure policies are collectively known as fiscal policy.
Key Points:
- Two types of taxes: Direct taxes (on incomes, profits) and Indirect taxes (on commodities).
- Since 1991, continuous reduction in taxes on individual incomes.
- High income tax rates were a reason for tax evasion.
📚 About this Topic — CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL
This multiple choice question is from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL to strengthen your preparation.
