Which One among the following Formulates the Fiscal Policy in India?
Ministry of Finance
Fiscal Policy is a economic science which means a government spending levels and tax rates. Fiscal policy can be used to stabilize the economy over the course of the business cycle.
The Ministry of Finance manage government financial assets, propose economic and financial policy. Its includes the task of mobilization of resources in terms of execution of developmental programmes. These Department help the Ministry of Finance India to regulate the various financial and economic workings.
- Department of Economic Affairs
- Department of Economic Disinvestment
- Department of Expenditure
- Department of Financial Services
- Department of Revenue
The main duties and function of Finance ministry are, Prepare the annual fiscal budget, Manage government financial assets. On 26 November 1947 first budget of Independent India presented by the first Finance Minister of Independent India R. K. Shanmukham Chetty. Presently Arun Jaitley is a Finance Minister of India.