Fiscal Consolidation Initiatives in India

Fiscal Consolidation Initiatives in India

What is fiscal deficit ? It is total expenditure minus total revenue plus non debt creating capital assets.Thus it is nothing but the borrowings. Every government strives to contain the fiscal deficit as it brings out a picture of how strong are the macroeconomic fundamentals of the economy of the country.The government of India has enacted Fiscal Responsibility and Budget management act.This act sets out the targets to be achieved by government for containing Fiscal and revenue deficit. The government is required to run programmes and policies like MGNREGA for the…

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