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Point out the Fiscal Policy Reforms (Tax Reforms).

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The fiscal policy reforms are the reforms introduced by the Government in respect of taxation, subsidies public borrowings etc.,

The major fiscal policy reforms are as follows:

  • Continuous reduction in tax rates on individual income in order to prevent tax evasion.
  • Gradual reduction of corporate tax.
  • Reducing Government expenditure by reducing the size of administration in the Government.  
  • Reducing subsidies on food grains, chemical fertilizers, exports, etc.,

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