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Indian Fiscal System - 3 Video Lecture | Crash course for UPSC (Hindi)

FAQs on Indian Fiscal System - 3 Video Lecture - Crash course for UPSC (Hindi)

1. What is the Indian fiscal system?

Ans. The Indian fiscal system refers to the structure and functioning of the government's revenue collection, expenditure, and management of public finances. It includes various components such as taxation, budgeting, public debt, and fiscal policies.

2. What are the key features of the Indian fiscal system?

Ans. The key features of the Indian fiscal system include progressive taxation, multiple levels of government (central, state, and local), a diverse range of taxes (income tax, goods and services tax, etc.), and a budgetary process that involves the presentation, approval, and implementation of the annual budget.

3. How does taxation work in the Indian fiscal system?

Ans. Taxation in the Indian fiscal system involves the levying of taxes on individuals and businesses to generate revenue for the government. This includes direct taxes like income tax and indirect taxes like goods and services tax (GST). The taxes collected are used to fund public services and infrastructure development.

4. What is the role of the budget in the Indian fiscal system?

Ans. The budget plays a crucial role in the Indian fiscal system. It is an annual financial statement that outlines the government's revenue and expenditure for the upcoming fiscal year. The budget helps in planning and allocating funds for various sectors, implementing fiscal policies, and ensuring the overall economic stability of the country.

5. How does the Indian fiscal system impact the economy and citizens?

Ans. The Indian fiscal system has a significant impact on the economy and citizens. It determines the allocation of resources, influences economic growth, and affects the distribution of income and wealth. The fiscal policies implemented through the system can impact inflation, employment, and overall economic development. Additionally, the tax burden and public expenditure decisions directly affect the citizens' financial well-being and access to public services.

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Oct 06, 2025 Last updated

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