{"id":28081,"date":"2021-03-05T18:20:00","date_gmt":"2021-03-05T12:50:00","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=28081"},"modified":"2021-03-06T00:06:13","modified_gmt":"2021-03-05T18:36:13","slug":"fiscal-policy-india","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/fiscal-policy-india\/","title":{"rendered":"Brief Fiscal Policy Study Notes &#8211; UPSC EPFO Enforcement Officer 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/fiscal-policy-india\/#1_Fiscal_Policy_Study_Notes_%E2%80%93_UPSC_EPFO_EO_2021\" >1. Fiscal Policy Study Notes &#8211; UPSC EPFO EO 2021<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/fiscal-policy-india\/#2_Economic_Effects_Of_The_Fiscal_Policy\" >2. Economic Effects Of The Fiscal Policy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/fiscal-policy-india\/#3_Few_Methods_To_Fund_Fiscal_Policy\" >3. Few Methods To Fund Fiscal Policy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/fiscal-policy-india\/#4_UPSC_EPFO_EO_2021_%E2%80%93_Complete_Study_Notes\" >4. UPSC EPFO EO 2021 &#8211; Complete Study Notes<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>The UPSC EPFO Enforcement Officer exam sees a fair share of questions from the Indian Economy topic. Since the course is vast, it becomes all the more important to cover every topic with a certain amount of time left for revision. Now with exam dates deferred, you have a good opportunity to cover up your syllabus effectively. In this article, we will be providing you with complete Fiscal Policy study notes to master the topic.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><em><strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\">Register Here &amp; Take A Free Mock Test For UPSC EPFO EO<\/a><\/span><\/strong><\/em><\/p>\n\n\n\n<p>Fiscal Policy is one of the important topics when it comes to exam preparation. It is also often seen in various bank and government exams mains paper or is also asked in the interview. So, let&#8217;s make the most of this article and make sure you do not miss out on any question asked from this topic.<\/p>\n\n\n\n<p>Let&#8217;s Read along:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Fiscal_Policy_Study_Notes_%E2%80%93_UPSC_EPFO_EO_2021\"><\/span><span style=\"color: #000000;\"><strong>1. Fiscal Policy Study Notes &#8211; UPSC EPFO EO <\/strong><\/span><strong><span style=\"color: #000000;\">202<\/span>1<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"color: #000000;\">Fiscal policy&nbsp;is the means by which the government <strong>adjusts its spending levels<\/strong> and&nbsp;<strong>tax rates<\/strong> to monitor and influence the nation&#8217;s economy. Fiscal policy is a result of several component policies or a mix of policy instruments. These include the policy on taxation, subsidy, welfare expenditure, etc; investment or disinvestment strategies; and debt or surplus management.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"color: #000000;\"><strong>1.1 Objectives of Fiscal Policy:<\/strong><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"text-align: justify;\"><span style=\"color: #000000;\">First and the foremost objective is to maintain and achieve full employment in the country.<\/span><\/li><li style=\"text-align: justify;\"><span style=\"color: #000000;\">To stabilize the general price level in the economy.<\/span><\/li><li style=\"text-align: justify;\"><span style=\"color: #000000;\">To stabilize the growth rate of the economy.<\/span><\/li><li style=\"text-align: justify;\"><span style=\"color: #000000;\">To maintain equilibrium in the&nbsp;Balance of Payments.<\/span><\/li><li style=\"text-align: justify;\"><span style=\"color: #000000;\">To promote the economic development of a country.<\/span><\/li><\/ul>\n\n\n\n<p><strong><em><span style=\"color: #000000;\">Prepare For UPSC EPFO EO With Oliveboard.<\/span> <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\">Start Now With A Free Mock Test!<\/a><\/span><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"color: #000000;\"><strong>1.2 Types of Fiscal Policy<\/strong><\/span><\/h3>\n\n\n\n<p><span style=\"color: #000000;\"><strong>Expansionary Fiscal Policy:&nbsp;<\/strong>It is generally used for giving a boost to the economy i.e. to speed up the rate of growth of the economy or during a recession when growth in national income is not sufficient enough to maintain the present standards of living of the population. A tax cut and\/or an increase in government spending would be implemented to boost economic growth and lower unemployment rates. &nbsp;This is not a sustainable policy, as it leads to budget deficits and thus, should be used with caution by the government.<\/span><\/p>\n\n\n\n<p><span style=\"color: #000000;\"><strong>Contractionary Fiscal policy: <\/strong>It involves raising taxes or cutting government spending so that government spending is less than the tax revenue. It cuts upon the aggregate demand in the economy and thus economic growth leading to a reduction in inflationary pressures in the economy.<\/span><\/p>\n\n\n\n<p><span style=\"color: #000000;\"><strong>Neutral Fiscal Policy:&nbsp;<\/strong> This implies a balanced budget where government spending is equal to the tax revenue. It further means that government spending is fully funded by tax revenue and, the overall budget outcome has a neutral effect on the level of economic activity.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"color: #000000;\"><strong>1.3 Components of Fiscal Policy<\/strong>:&nbsp;<\/span><\/h3>\n\n\n\n<p><span style=\"color: #000000;\">There are four key components of Fiscal Policy are as follows: <\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Taxation Policy<\/strong> &#8211; The government gets its revenue by imposing taxes both direct and indirect. It is very important for the government to follow a judicious taxation policy and impose correct tax rates because of following two reasons &#8211; higher taxes will cause a reduction in the purchasing power of the people leading to decrease in production and investment and lower taxes will leave more money with the general public leading to high spending levels and thus high inflation.<\/span><\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Expenditure Policy<\/strong> &#8211; Government Expenditure includes Revenue expenditure and capital expenditure. The government budget is the most important instrument embodying the expenditure policy of the government. The budget is also used for deficit financing i.e.filling the gap between Government spending and income.<\/span><\/li><li style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Investment &amp; <span style=\"color: #000000;\">Disinvestment Policy<\/span><\/strong> &#8211; Optimum levels of domestic as well as a foreign investment are needed to maintain economic growth.<\/span><\/li><li style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Debt and Surplus Management<\/strong> &#8211; If the government received more than it spends, it is called a surplus. If the government spends more than income, then it is called a deficit. To fund the deficit the government has to borrow from domestic or foreign sources. It can also print money for deficit financing.<\/span><\/li><\/ul>\n\n\n\n<p><em><strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\">Topper took the test &amp; scored 105\/120. Can You Beat The Score?<\/a><\/span><\/strong><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Economic_Effects_Of_The_Fiscal_Policy\"><\/span><span style=\"color: #000000;\"><strong>2. Economic Effects Of The Fiscal Policy<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"color: #000000;\">Governments use fiscal policy to influence the level of aggregate demand in the economy so that certain economic goals can be achieved:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"color: #000000;\">Price stability;<\/span><\/li><li><span style=\"color: #000000;\">Full employment;<\/span><\/li><li><span style=\"color: #000000;\">Economic growth.<\/span><\/li><\/ul>\n\n\n\n<p><span style=\"color: #000000;\">The Keynesian view of economics suggests that increasing government spending and decreasing the rate of taxes are the best ways to have an influence aggregate demand, stimulate it, while decreasing spending and increasing taxes after the economic expansion has already taken place. <\/span><\/p>\n\n\n\n<p><span style=\"color: #000000;\">Additionally, Keynesians argue that expansionary fiscal policy should be used in times of recession or low economic activity as an essential tool for building the framework for strong economic growth and working towards full employment. <\/span><\/p>\n\n\n\n<p><span style=\"color: #000000;\">In theory, the resulting deficits would be paid for by an expanded economy during the expansion that would follow; this was the reasoning behind the&nbsp;<span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" title=\"New Deal\" href=\"https:\/\/en.wikipedia.org\/wiki\/New_Deal\">New Deal<\/a><\/span>.<\/span><\/p>\n\n\n\n<p><span style=\"color: #000000;\">Governments can use a&nbsp;<span style=\"color: #3366ff;\"><a class=\"mw-redirect\" style=\"color: #3366ff;\" title=\"Budget surplus\" href=\"https:\/\/en.wikipedia.org\/wiki\/Budget_surplus\">budget surplus<\/a><\/span>&nbsp;to do two things:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"color: #000000;\">to slow the pace of strong economic growth;<\/span><\/li><li><span style=\"color: #000000;\">to stabilize prices when inflation is too high.<\/span><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Few_Methods_To_Fund_Fiscal_Policy\"><\/span><strong><span style=\"color: #000000;\">3. Few Methods To Fund Fiscal Policy<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"color: #000000;\">Governments&nbsp;spend money&nbsp;on a wide variety of things, from the military and police to services such as education and health care, as well as&nbsp;transfer payments&nbsp;such as&nbsp;welfare&nbsp;benefits. This expenditure can be&nbsp;funded&nbsp;in a number of different ways:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong><span style=\"color: #000000;\">Taxation<\/span><\/strong><\/li><li><span style=\"color: #000000;\"><strong>Seigniorage<\/strong>, the benefit of printing money<\/span><\/li><li><span style=\"color: #000000;\"><strong>Borrowing<\/strong>&nbsp;money from the population or from abroad<\/span><\/li><li><span style=\"color: #000000;\"><strong>Dipping<\/strong> into fiscal reserves<\/span><\/li><li><span style=\"color: #000000;\"><strong>Sale&nbsp;of&nbsp;fixed assets<\/strong>&nbsp;(e.g.,&nbsp;land)<\/span><\/li><\/ul>\n\n\n\n<p><em><strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\">Get Complete Study Notes By Registering Here<\/a><\/span><\/strong><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_UPSC_EPFO_EO_2021_%E2%80%93_Complete_Study_Notes\"><\/span><span style=\"color: #000000;\"><strong>4. UPSC EPFO EO 2021 &#8211; Complete Study Notes<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Get Complete Fiscal Policy Study Notes and more on Oliveboard. Find notes on following topics on our platform:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong><span style=\"color: #000000;\">History<\/span><\/strong><\/li><li><strong><span style=\"color: #000000;\">Economy<\/span><\/strong><\/li><li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Industrial Relations &amp; Labor Law<\/strong><\/a><\/span><\/li><li><strong><span style=\"color: #000000;\">Science<\/span><\/strong><\/li><li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Social Security<\/strong><\/a><\/span><\/li><li><strong><span style=\"color: #000000;\">Computer Knowledge<\/span><\/strong><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><span style=\"color: #000000;\">4.1 Here&#8217;s a Sneak Peek in The UPSC EPFO EO Notes<\/span><\/strong><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\"><img loading=\"lazy\" decoding=\"async\" width=\"1023\" height=\"573\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2020\/05\/EPFO-EO-Study-Notes.png\" alt=\"macroeconomics Study Notes\" class=\"wp-image-57566\"\/><\/a><\/figure><\/div>\n\n\n\n<p class=\"has-text-align-center\"><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-eo\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\">Get Complete Study Notes For UPSC EPFO EO Here<\/a><\/strong><\/span><\/p>\n\n\n\n<p>That brings us to the end of this article. We hope that the Fiscal Policy study Notes provided here proves useful to your preparations. Now you can get complete study notes for the preparations of the enforcement officer exam on Oliveboard along with the Mock Tests that are specially designed for the UPSC EPFO, keeping in mind the pattern and difficulty level.<\/p>\n\n\n\n<p>You can click on the image below to know all about the Mock Tests and the study notes.<\/p>\n\n\n\n<p><strong>Also, Check:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=blog\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>100+ Free Mock Tests<\/strong><\/a><\/span><\/li><li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.oliveboard.prep\" target=\"_blank\" rel=\"noopener noreferrer\">Oliveboard Mobile App<\/a><\/strong><\/span><\/li><li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/discuss.oliveboard.in\/?ref=tsh\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Oliveboard\u2019s discuss forum<\/strong><\/a><\/span><\/li><li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/t.me\/obbanking\">Oliveboard Telegram Group<\/a><\/strong><\/span><\/li><li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=bolt\" target=\"_blank\" rel=\"noopener noreferrer\">Download BOLT \u2013 Our Monthly General Awareness free e-book<\/a><\/strong><\/span><\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>Recommended Free Downloads<\/strong><\/p>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/www.oliveboard.in\/blog\/monthly-current-affairs\/\" aria-label=\"Monthly Current Affairs 2026 PDF For SSC, Banking, and Railways\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"84\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/06\/Monthly-Current-Affairs-2026-PDF.webp\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Monthly Current Affairs 2026 PDF\" style=\"\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/monthly-current-affairs\/\">Monthly Current Affairs 2026 PDF For SSC, Banking, and Railways<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/www.oliveboard.in\/blog\/history-notes\/\" aria-label=\"Free History Notes PDF for SSC, Civil Services, UPSSSC &#038; 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Since the course<\/p>\n","protected":false},"author":50,"featured_media":57655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,60,2586,10321],"tags":[9990,9992,9991],"class_list":["post-28081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-general-knowledge","category-notes","category-upsc-epfo","tag-fiscal-policy-of-india","tag-tools-of-fiscal-policy","tag-types-of-fiscal-policy","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Brief Fiscal Policy Study Notes - UPSC EPFO Enforcement Officer 2021<\/title>\n<meta name=\"description\" content=\"Get complete Fiscal Policy study notes {economics)here. 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