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Monetary & Fiscal policies - Sector-wise Trends and Issues, Indian Economy Video Lecture | Indian Economy - B Com
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FAQs on Monetary & Fiscal policies - Sector-wise Trends and Issues, Indian Economy Video Lecture - Indian Economy - B Com
| 1. What are monetary and fiscal policies? |  |
Ans. Monetary policy refers to the actions taken by the central bank to control the supply of money and interest rates in an economy. It involves measures such as changing the reserve requirements, conducting open market operations, and adjusting the discount rate. On the other hand, fiscal policy refers to the decisions made by the government regarding its spending and taxation. It aims to influence the overall economic activity and stabilize the economy.
| 2. What are the sector-wise trends and issues in the Indian economy? | |
Ans. The sector-wise trends and issues in the Indian economy vary across different sectors. However, some common trends and issues include:
- Agriculture sector: Challenges such as low productivity, lack of irrigation facilities, and dependence on monsoons. The trend includes the adoption of technology, government initiatives for rural development, and emphasis on sustainable agriculture.
- Manufacturing sector: Issues such as lack of infrastructure, high cost of capital, and complex regulations. The trend includes the promotion of Make in India initiative, ease of doing business reforms, and focus on skill development.
- Service sector: Challenges such as skill gaps, uneven distribution of benefits, and increasing competition. The trend includes the growth of IT and IT-enabled services, rise of e-commerce and digital payments, and focus on service exports.
| 3. How do monetary and fiscal policies impact the Indian economy? | |
Ans. Monetary and fiscal policies play crucial roles in shaping the Indian economy:
- Monetary policy: Changes in interest rates affect borrowing costs, investments, and consumer spending. It helps control inflation, stimulate economic growth, and maintain price stability.
- Fiscal policy: Government spending and taxation influence aggregate demand, investment, and employment. It aims to stabilize the economy, address income inequality, and promote economic growth.
Both policies work in coordination to achieve macroeconomic objectives such as stable prices, low unemployment, and sustainable economic growth.
| 4. What are the key issues faced by the Indian economy in implementing monetary and fiscal policies? | |
Ans. The key issues faced by the Indian economy in implementing monetary and fiscal policies are:
- Inflationary pressures: Balancing the need for economic growth with controlling inflation is a challenge. High inflation can erode the purchasing power of individuals and affect the overall stability of the economy.
- Fiscal deficit: Maintaining fiscal discipline and managing the fiscal deficit is crucial. A high fiscal deficit can lead to increased government borrowing, crowding out private investments, and macroeconomic instability.
- Structural issues: The Indian economy faces structural issues such as informal sector dominance, job creation, and inadequate infrastructure. These factors can affect the effectiveness of monetary and fiscal policies in achieving desired outcomes.
| 5. What are the recent policy measures taken by the Indian government to address sector-wise issues in the economy? | |
Ans. The Indian government has undertaken several policy measures to address sector-wise issues in the economy:
- Agriculture sector: Initiatives like Pradhan Mantri Fasal Bima Yojana (PMFBY) and e-NAM (National Agriculture Market) have been implemented to improve crop insurance and create a unified market for agri-commodities.
- Manufacturing sector: Make in India initiative, Goods and Services Tax (GST) implementation, and the introduction of production-linked incentive (PLI) schemes in sectors like electronics and pharmaceuticals aim to boost manufacturing and attract investments.
- Service sector: Skill India mission, Digital India campaign, and reforms in sectors like banking and insurance have been introduced to enhance the skill base, promote digitalization, and improve the ease of doing business in the service sector.
Text Transcript from Video
hi guys livin here today we will learn
about what fiscal and monetary policies
are these have been discussed within the
news with respect to the crisis that has
been happening in Greece Greece got into
this mess it is in currently because
they adopted a very appealing monetary
policy but lacked strength in an
effective fiscal policy so what is the
fiscal policy and what is a monetary
policy a fiscal policy deals with how a
government or a country makes money and
how its going to spend for various
activities that occur in the country the
fiscal policy in India is controlled by
the Ministry of Finance with support
from RBI the monetary policy is a sister
strategy to the fiscal policy and the
monetary policy is entirely controlled
by RBI what happens in India when it
comes to the fiscal policy and let's
look at some of the main sources of
revenue for the government of India
there are also sources like revenue
earned from railways and other
government companies which is discussed
in the annual budget the money earned
from these sources is spent for various
expenses like crude oil defense or even
the yellow metal that is gold there are
many actions the government takes to
increase the revenue made from various
sectors one of these sectors is service
taxes every year the government adds new
services into the service tax wing so
when more services are added it will
increase the revenue made from various
industries which are providing services
in the 2015 Union budget the government
increased the service tax from twelve
point three six percent to fourteen
percent although it might seem like a
minor height this will certainly bring
in a few thousand crores more into the
government's Treasury since more revenue
is made each year by charging service
taxes on more sectors the government can
spend more on other sectors such as
defense the sister strategy to the
fiscal policy is the monetary policy
this is controlled by RBI RBI uses
various ratios like CRR SLR repo and
reverse repo rates to control how much
money is there in the
RPI is one of the most powerful
regulating agencies in India this allows
them to keep a tap on the amount of
money banks have in their vaults by
manipulating CRR SLR repo and reverse
repo the total amount of money in the
country can increase or decrease a small
change in CRR which is known as cash
reserve ratio of just 0.25 percent is
able to free some 30,000 crore for all
the banks in India so you can see here
how the monetary policy is managed to
summarize fiscal policy deals with money
made and money spent by a government I
will explain more about the fiscal and
monetary policies and map coming videos
also remember monetary policy deals with
how much money that a country has these
are some things which every citizen of
India must be aware of anyway guys thank
you for watching this video please hit
the subscribe button and please share
this video thank you for your time have
a nice day bye
about what fiscal and monetary policies
are these have been discussed within the
news with respect to the crisis that has
been happening in Greece Greece got into
this mess it is in currently because
they adopted a very appealing monetary
policy but lacked strength in an
effective fiscal policy so what is the
fiscal policy and what is a monetary
policy a fiscal policy deals with how a
government or a country makes money and
how its going to spend for various
activities that occur in the country the
fiscal policy in India is controlled by
the Ministry of Finance with support
from RBI the monetary policy is a sister
strategy to the fiscal policy and the
monetary policy is entirely controlled
by RBI what happens in India when it
comes to the fiscal policy and let's
look at some of the main sources of
revenue for the government of India
there are also sources like revenue
earned from railways and other
government companies which is discussed
in the annual budget the money earned
from these sources is spent for various
expenses like crude oil defense or even
the yellow metal that is gold there are
many actions the government takes to
increase the revenue made from various
sectors one of these sectors is service
taxes every year the government adds new
services into the service tax wing so
when more services are added it will
increase the revenue made from various
industries which are providing services
in the 2015 Union budget the government
increased the service tax from twelve
point three six percent to fourteen
percent although it might seem like a
minor height this will certainly bring
in a few thousand crores more into the
government's Treasury since more revenue
is made each year by charging service
taxes on more sectors the government can
spend more on other sectors such as
defense the sister strategy to the
fiscal policy is the monetary policy
this is controlled by RBI RBI uses
various ratios like CRR SLR repo and
reverse repo rates to control how much
money is there in the
RPI is one of the most powerful
regulating agencies in India this allows
them to keep a tap on the amount of
money banks have in their vaults by
manipulating CRR SLR repo and reverse
repo the total amount of money in the
country can increase or decrease a small
change in CRR which is known as cash
reserve ratio of just 0.25 percent is
able to free some 30,000 crore for all
the banks in India so you can see here
how the monetary policy is managed to
summarize fiscal policy deals with money
made and money spent by a government I
will explain more about the fiscal and
monetary policies and map coming videos
also remember monetary policy deals with
how much money that a country has these
are some things which every citizen of
India must be aware of anyway guys thank
you for watching this video please hit
the subscribe button and please share
this video thank you for your time have
a nice day bye
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Dec 23, 2024 Last updated |
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