UPSC Exam  >  UPSC Questions  >  Fiscal Policy in India is formulated by which... Start Learning for Free
Fiscal Policy in India is formulated by which of the following?
  • a)
    The Reserve Bank of India
  • b)
    NITI Aayog
  • c)
    Ministry of Finance
  • d)
    The Finance Commission
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Fiscal Policy in India is formulated by whichof the following?a)The Re...
Ministry of finance is the nodal agency for formulation of the fiscal policy
Free Test
Community Answer
Fiscal Policy in India is formulated by whichof the following?a)The Re...
Fiscal policy refers to the use of government spending, taxation and borrowing to influence the economy. In India, fiscal policy is formulated by the Ministry of Finance.

Ministry of Finance:
The Ministry of Finance is a cabinet-level body of the Government of India. It is responsible for the formulation and administration of fiscal policy, financial legislation, and the management of public finances in India. The ministry comprises five departments, namely, the Department of Economic Affairs, the Department of Revenue, the Department of Expenditure, the Department of Financial Services, and the Department of Investment and Public Asset Management.

Functions of Ministry of Finance:
The Ministry of Finance has the following functions:

1. Formulation and implementation of fiscal policies:
The Ministry of Finance formulates and implements fiscal policies to achieve the objectives of economic growth, price stability, and employment generation.

2. Management of public finances:
The ministry is responsible for managing public finances, including the preparation and presentation of the Union Budget.

3. Revenue mobilization:
The Ministry of Finance is responsible for mobilizing revenue through taxation, non-tax sources, and borrowings.

4. Management of government debt:
The ministry manages the government's debt through the issuance of government securities and the management of the government's debt portfolio.

5. Financial sector regulation:
The ministry regulates the financial sector in India through various institutions such as the Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, and Pension Fund Regulatory and Development Authority.

Conclusion:
To sum up, fiscal policy in India is formulated by the Ministry of Finance, which is responsible for the management of public finances, revenue mobilization, formulation and implementation of fiscal policies, management of government debt, and financial sector regulation.
Explore Courses for UPSC exam

Top Courses for UPSC

Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer?
Question Description
Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Fiscal Policy in India is formulated by whichof the following?a)The Reserve Bank of Indiab)NITI Aayogc)Ministry of Financed)The Finance CommissionCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses

Similar UPSC Doubts

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev