Questions

The 2019 BRICS summit is the eleventh annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five-memberstates Brazil, Russia, India, China and South Africa. The summit will be held in Rio de Janeiro, Brazil, the third time Brazil has hosted the summit after the 2014 summit.

In India, Fiscal Policy is formulated by the Ministry of Finance.

Fiscal policy is playing an important role on the economic and social front of a country. Traditionally, fiscal policy is concerned with the determination of state income and expenditure policy. But with the passage of time, the importance of fiscal policy has been increasing continuously for attaining rapid economic growth.

An effective fiscal policy is composed of policy decisions relating to the entire financial structure of the government including tax revenue, public expenditures, loans, transfers, debt management, budgetary deficit, etc.