Term of the day: Fiscal Consolidation It is an effort by the | ECONOMY by VIVEK SINGH
Term of the day: Fiscal Consolidation
It is an effort by the Government to bring down fiscal deficit and debt. This is done by bringing down wasteful expenses and raising revenues.
Post Covid, Govt. started spending a lot through higher fiscal deficit and debt. But in the Interim Budget presented on 1st Feb, it is clear that Govt. is now on the path towards fiscal consolidation.
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