In India which one among the following formulates the fiscal policy?

Planning Commission

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Ministry of Finance

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Finance Commission

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The Reserve Bank of India

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Solution

The correct option is B Ministry of Finance
In India, fiscal policy is formulated by the Ministry of Finance through its budget proposals. RBI formulates monetary policy. Finance Commission gives recommendation about allocation of financial resources between centre and states. And Planning Commission formulates Five Year Plans.

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Which among the following formulates fiscal policy?

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