Objectives: To achieve economic growth, price stability, full employment, equitable distribution of income and wealth, and external balance.

Tools: Government expenditure (capital and revenue), taxation (direct and indirect), and public debt (borrowings).

Types of Fiscal Policy: Expansionary (increase spending, decrease taxes to stimulate economy) and Contractionary (decrease spending, increase taxes to curb inflation).

Government Revenue Sources: Primarily Tax Revenue (Direct taxes like Income Tax, Corporate Tax; Indirect taxes like GST, Customs Duty) and Non-Tax Revenue (interest receipts, dividends from PSUs, fees, fines, external grants).

Fiscal Stability: Refers to a situation where the government's finances are managed sustainably, avoiding excessive deficits and debt, ensuring a steady revenue stream to meet obligations.

Budget: The Annual Financial Statement (Article 112) outlines the government's estimated receipts and expenditures for a financial year, reflecting its fiscal policy.

Fiscal Deficit: The difference between total expenditure and total revenue (excluding borrowings), indicating the government's borrowing requirement.

Revenue Mobilization: Strategies employed by the government to increase its revenue collection, including tax reforms, improving tax compliance, and optimizing non-tax sources.

Objectives: To achieve economic growth, price stability, full employment, equitable distribution of income and wealth, and external balance.

Tools: Government expenditure (capital and revenue), taxation (direct and indirect), and public debt (borrowings).

Types of Fiscal Policy: Expansionary (increase spending, decrease taxes to stimulate economy) and Contractionary (decrease spending, increase taxes to curb inflation).

Government Revenue Sources: Primarily Tax Revenue (Direct taxes like Income Tax, Corporate Tax; Indirect taxes like GST, Customs Duty) and Non-Tax Revenue (interest receipts, dividends from PSUs, fees, fines, external grants).

Fiscal Stability: Refers to a situation where the government's finances are managed sustainably, avoiding excessive deficits and debt, ensuring a steady revenue stream to meet obligations.

Budget: The Annual Financial Statement (Article 112) outlines the government's estimated receipts and expenditures for a financial year, reflecting its fiscal policy.

Fiscal Deficit: The difference between total expenditure and total revenue (excluding borrowings), indicating the government's borrowing requirement.

Revenue Mobilization: Strategies employed by the government to increase its revenue collection, including tax reforms, improving tax compliance, and optimizing non-tax sources.