A) Ministry of Finance
B) The Reserve Bank of India
C) Finance Commission
D) NITI Aayog
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Answer is A) Ministry of Finance
In India, the fiscal policy is formulated by the Ministry of Finance through its budget proposals.
This policy is designed to set limits for various fiscal deficits such as revenue deficit, budget deficit, etc.
The fiscal policy is used to manage the government’s finances, including taxation and expenditure. It is intended to promote economic growth and stability.
The fiscal policy is also used to influence the macroeconomic environment and the public’s spending habits. As such, it serves to manage the economy’s resources and ensure that economic objectives are met.