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.,