Fiscal Policy
Fiscus (in Latin) refers to a purse and ‘fisc’ (in English) is a royal or state treasury. Thus, ‘fiscal policy’ is that under which the government uses its revenue and expenditure programs to produce desirable effects on national income, production and economy. It is thus used as a balancing device in the economy. Two major elements of fiscal policy are taxation and public expenditure.| Comments on article "Fiscal Policy" | ||||||||||||||||||||||||||||||||||||
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