GPSC Prelims Exam 2024
- Fiscal Policy: It refers to the use of government spending and tax policies to influence economic conditions, especially macroeconomic conditions, including price level control, creating employment, maintaining economic growth, etc.
- Major fiscal measures are public expenditure, taxation, public borrowing, rationing and price control, regulation of wages, increasing production of goods and services etc.
- Five Year Plans: First Five Year Plan (1951-56): It was based on the Harrod Domar model and mainly focused on agricultural development.
- Second Five Year Plan (1956-61): It was based on Mahalanobis model and mainly focused on industrial development.
- Third Five Year Plan (1961-66): It is also called Gadgil ....
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