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Monetary Policy««««««««..«««««««««««««««««.. Pg. 2


©? Ú 
   Pg. 5
©?     
  Pg. 7

Fiscal Policy and its understanding ««««««««««««««««««. Pg. 17

Example of Fiscal Policy «««««««««««««««««««. Pg. 17


Govt. Spending Structure ««««««««««««««««««« Pg. 18
Expenditures «««««««««««««««««««««««.....Pg. 19
Funding of Deficit ««««««««««««««««««««««Pg. 20

Connotation (Implications) of Fiscal Policy «««««««««««««««.Pg. 22

INDIAN FISCAL POLICY ««««««««««««««««««««« Pg. 23

Savings, Investments & Fiscal Deficit ««««««««««««««.. Pg. 24


Industrial Policy ««««««««««««««««««««««« Pg. 26
Trade Policy ««««««««««««««««««««««««.. Pg. 27
FDI Policy «««««««««««««««««««««««««. Pg. 28
Reforms in Agriculture ««««««««««««««««««««. Pg. 29
Social Sector Development ««««««««««««««««««... Pg. 30

Relevance of Indian Fiscal Policy «««««««««««««««««««. Pg. 31

GDP Growth Rate Statistics ««««««««««««««««««. Pg. 31


Sector Growth Rate Statistics «««««««««««««««««... Pg. 32
Poverty Reduction ««««««««««««««««««««««. Pg. 32
Literacy Rate ««««««««««««««««««««««««.. Pg. 33
Foreign Investments (Inflow & Outflow) «««««««««««««.. Pg. 33
Other facts of Indian Economy «««««««««««««««««.. Pg. 35

Budget 08¶ ± 09¶: A Glance «««««««««««««««««««««« Pg. 36

Suggestions «««««««««««««««««««««««««. Pg. 37


Summary«««««««««««««««««««««««««««««.. Pg. 38
References ««««««««««««««««««««««««««««. Pg. 39

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Fiscal policy is based on the theories of British economist John Maynard Keynes. Also known
as Keynesian economics, this theory basically states that governments can influence
macroeconomic productivity levels by increasing or decreasing tax levels and public spending.
This influence, in turn, curbs inflation increases employment and maintains a healthy value of
money.

Fiscal policy basically means by which a government adjusts its levels of spending in order to
monitor and influence a nation's economy. It is the sister strategy to monetary policy, with
which a central bank influences a nation's money supply. These two policies are used in various
combinations in an effort to direct a country's economic goals.
 
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The government¶s handling of its own spending, taxation and government borrowings are the
key components of fiscal policy.




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? Economy to Grow at 9.4 (GDP)


? Total Revenue to stand at Rs. 6,80,521(Cr.) @ 14.69 % growth.
? Fiscal Deficit to stand at 1,44,950 (3.13 of GDP) (net) (Rs. Crores)
? Average Inflation in FY'08 to be 4 ± 4.5 %

   

    


   

1.? All Pvt. & Public Sector Banks which have more than 200 Branches necessarily need
open 10 New Branches in r 
 of Each State by End Financial year 2010.

2.? Allocation for   to be Enhanced by 22.5 % (from 19.7 %).

3.? State Govts. (Combined) need to be given an estimated Rs. 2300 Crores for *
   & Special Team for Monitoring to be setup.

4.? Ad valorem Duty on 


  
 should to be brought down from 8 % to 5 % &
remain Stable for next 2 Yrs.

5.? All Pvt. & Public Sector Banks which have more than 200 Branches necessarily need
open 10 New Branches in r 
 of Each State by End Financial year 2010.

6.? Allocation on 6


  should be Increased by 22.5 % from Previous Year. (50 %
Compulsory for Rural Areas)

7.? Benefits for Investing in Venture Capital Funds Confined to 6     
    
     

8.? An Investment of Rs. 275 Crore for R&D in the Field of 
 
r .

9.?   Infrastructure needs to be allotted an Amount of Rs. 600 Crores. (Rs.520 Crore
07¶ 08¶)

10.?The Quality of Public Expenditures has Deteriorated ± can rationalize Govt. through:
a)? Internal Restructuring
b)? Privatization
c)? Subsidy Reduction

11.?Better Management of Pay and Pensions.

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12.?Coordinated Tax Reform Required:

a)? Jurisdictions: States and Center have to work together.

b)? Taxes: Could have PiggyBacking of States on Income Tax, with


distinction between Agricultural and NonAgricultural Income removed.

13.?New measures on Services Tax are Retrograde:

Shift Tax Power to Center.

14.?Interest on Loans may be subsidized.

15.?Loans may be rescheduled.

16.?Loan Guarantees can serve as a Subsidy also.



























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www.indiabudget.nic.in

www.indiastat.com

www.wikipedia.org

www.google.com

www.googlescholar.com

http://fincomindia.nic.in

http://planningcommission.nic.in

http://econstats.com

http://www.censusindia.gov.in

http://www.indexmundi.com

www.worldbank.org.in

www.rediff.com

http://www.hinduonnet.com/fline/fl1718/17181090.html

http://imf.org/external/np/seminars/eng/2004/fiscal/pdf/heller.pdf


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