Fiscal policy refers to government attempts to influence the economy through taxes and spending. There are three stances of fiscal policy: neutral, expansionary, and contractionary. Government financing can be achieved through taxes, debt, or seigniorage. Taxes serve four main purposes: revenue, redistribution, repricing, and representation. Fiscal policy works through both discretionary and non-discretionary elements, such as automatic increases in government spending during economic slowdowns.

1. Macro Economics Group-13 Supratik Rath Tanushree Maji Vaibhav Pateriya Vandana

13. Government Expenditure Government Receipts Fiscal Deficit Revenue Deficit Deficit on Capital Account Revenue Expenditure Revenue Receipts Capital Expenditure Capital Receipts

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