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Budget and fiscal policy

Budget and fiscal policy for UPSC Prelims and Mains, taught in 1 parts. Each part has tables, exam traps, a recap and practice questions, and every paragraph is explained in Marathi.

Quick recap: Quick recap: Budget and fiscal policy on one page

Both parts of Budget and fiscal policy condensed for quick revision: Article 112 and the three accounts, budget documents and the 2017-18 reforms, the revenue–capital tests, every deficit measure, public debt and the FRBM Act to today's debt anchor, with a one-table overview and eight mixed questions.

Parts of this chapter

Part 2

Deficits, public debt and the FRBM Act

Every measure of deficit (fiscal, revenue, effective revenue, primary, monetised and the old budget deficit) with its formula and meaning, how deficits are financed and what they do (crowding out, inflation, interest burden), when public debt is sustainable and how states borrow under Article 293, and India's fiscal rules from the FRBM Act of 2003 through its amendments, the escape clause and the N.K. Singh committee to the present consolidation path and debt anchor.

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