What are the key features of the Indian government's fiscal policy
Describe the fiscal policy of the Indian government and highlight its important features.
- Revenue and expenditure management: The government manages public revenue and expenditure through various policies and measures to achieve fiscal discipline and stability.
- Taxation policy: The government employs tax measures to generate revenue, promote investment, and encourage savings and consumption.
- Public debt management: The government manages public debt through prudent borrowing, debt servicing, and refinancing to ensure financial stability.
- Budgetary policy: The government formulates and implements an annual budget to allocate resources to various sectors, promote inclusive growth, and ensure fiscal sustainability.
- Social welfare policy: The government aims to provide basic amenities and services to all citizens through various schemes, programs, and subsidies.
- Privatization and disinvestment: The government promotes privatization of public sector enterprises and disinvestment in non-strategic sectors to increase efficiency, competitiveness, and revenue generation.
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