Monetary Measures

Fiscal policy refers to

What type of fiscal policy is being followed when taxes are decreased to promote stability and economic growth?

Which one among the following is not a component of fiscal policy?

Which of the following statement is/are functions of Independent Fiscal Council?

Consider the following statements:

1) The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Governments.

2) The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.

3) As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.

Which of the statements given above is/are correct?